Monetary Theory and Monetary Policy is the second collection of essays by Karl Brunner – one of the most prominent monetary economists of the twentieth century. It demonstrates the importance of economic analysis for the development of appropriate economic policies.
The book opens with a preface by Thomas Lys which provides the reader with an account of both Karl Brunner’s personal and academic life. This is developed further in an introduction by Allan H. Meltzer, who focuses on Brunner’s intellectual development. Issues discussed in this collection include the question of whether monetarism has failed, monetary policy, persistent inflation, deficits and interest rates, high-powered money, the monetary base, the money supply, international monetary order and the question of whether supply-side economics is sufficient for comprehensive policymaking.
This selection will be welcomed by academics, students and policymakers interested in monetary economics and the work of Karl Brunner.