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Allin Cottrell

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Allin Cottrell

This chapter addresses the question of whether it is right to cede the case of commodity money to a quantity-theoretic analysis. There are two issues here: what is the ‘correct’ analysis of the case of commodity money, and what did the classical monetary theorists have to say on the matter? These issues are not really separable: in seeking an adequate analysis of commodity money, one is obliged to engage with those writers who have had the most to say on the subject.