Template-Type: ReDIF-Article 1.0
Author-Name: Andrea Carrera
Author-Email: andrea.carrera@usi.ch

Author-Workplace-Name: University of Lugano
Author-Name: Sergio Rossi
Author-Email: sergio.rossi@unifr.ch

Author-Workplace-Name: University of Fribourg
Title: Money, income, and profit: lessons from the monetary theory of production
Abstract: In this paper we analyze Augusto Graziani’s numerous contributions to the monetary theory of production, which he 
	developed from a theoretical but also a policy-oriented perspective. We focus on the rejection of the neoclassical 
	dichotomy, the causal relation between production and money creation, and the definition of macroeconomic saving. These 
	three dimensions of Graziani’s work can be identified in the framework of the monetary circuit, in the tradition of 
	classical and Marxian economic thought. The outcome of Graziani’s investigations sheds light on the working of a monetary 
	economy of production from the issuance of bank money to the distribution of income and capital accumulation.
Classification-JEL: E12, E22, E23

Keywords: Keynesian theories, Theories of the monetary circuit, Investment.
Journal: Iberian Journal of the History of Economic Thought
Pages: 48-60
Volume: 2
Issue: 1
Year: 2015
Month: July
DOI: 10.5209/rev_IJHE.2015.v2.n1.49773
X-File-Ref: http://america.sim.ucm.es/repec/ucm/ref/journal/ijohet15-2-1(48-60).txt
File-URL: https://eprints.ucm.es/id/eprint/35910/1/15-2-1%2848-60%29.pdf
File-Format: Application/pdf
Handle: RePEc:ucm:ijohet:v:2:y:2015:i:1:p:48-60