Early Twentieth-Century Heterodox Monetary Thought and the Law of Entropy
AbstractThe purpose of this paper is to study the link between an important development in the physical sciences, the discovery of the law of entropy, and its impact on the evolution of heterodox monetary theory early this century. Based on the recognition that, unlike the physical world, the monetary system appears to escape the effects of entropy, writers such as Soddy and Gesell developed particular theories and policy views that took this asymmetry into consideration.
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Bibliographic InfoPaper provided by University of Ottawa, Department of Economics in its series Working Papers with number 9602e.
Length: 21 pages
Date of creation: 1996
Date of revision:
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MONEY; MONETARY POLICY; ECONOMIC THOUGHT;
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