Literaturbeitrag / Review Book. Über die Natur und das Wesen des Geldes – J. H. von Thünens unveröffentlichtes Manuskript zur Geldtheorie / The Nature and the Essence of Money – J. H. von Thuenen’s unpublished Manuscript on Monetary Economics
The economic works of Johann Heinrich von Thuenen include 1,000 unpublished pages of drafts and notes on the basis of which he prepared the second volume of his famous “Isolated State in Relation to Agriculture and Political Economy”. It’s bulk was not made accessible until today. The analysis of a 60 pages’ manuscript treating monetary questions and preparing his theory of capital and interest shows that the economic thoughts of Thuenen are much more far-reaching than presented in his published works. Diminishing returns of cash keeping in enterprises are the basic concept of his monetary analysis. Main results are an algebraic equation of exchange, the interaction between the monetary interest rate and the rate of return on real capital and finally a synthesis of an extended quantity theory and the production cost theory of money. “The Nature and Essence of Money” includes important elements of the development in monetary economics in the late nineteenth and the beginning twentieth century mainly influenced by contributions of Irving Fisher, Knut Wicksell and John Maynard Keynes.
Volume (Year): 234 (2014)
Issue (Month): 1 (February)
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- Rauch, W. & Schiereck, D., 2002. "Thünens Vorschlag für einen Mecklenburgischen Ritterschaftlichen Creditverein: Bedeutung und Auswirkungen," Publications of Darmstadt Technical University, Institute for Business Studies (BWL) 35281, Darmstadt Technical University, Department of Business Administration, Economics and Law, Institute for Business Studies (BWL).
- Erkko Etula, 2008. "The Two-Sector Von Thünen Original Marginal Productivity Model Of Capital; And Beyond," Metroeconomica, Wiley Blackwell, vol. 59(1), pages 85-104, February.
- Samuelson, Paul A, 1983. "Thunen at Two Hundred," Journal of Economic Literature, American Economic Association, vol. 21(4), pages 1468-1488, December.
- Thomas Huth, 2008. "Die Quantitätstheorie des Geldes - Eine keynesianische Reformulierung," Working Paper Series in Economics 79, University of Lüneburg, Institute of Economics.
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