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Agricultural Prices in the 1970's and the Quantity Theory of Money

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  • Barnett, Richard C.
  • Bessler, David A.
  • Thompson, Robert L.

Abstract

The violent price surges experienced in sixteenth century Europe were attributed by Jean Bodin in his Les six livres de la Rgpublique (written in 1576) to: (1) the increase in the supply of gold and silver from the Spanish conquests in America; (2) the prevalence of monopolies; (3) depredations that reduced the stream of available commodities; (4) the expenditure of kings and princes on the objects of their desires; and (5) debasements (devaluations and fraudulent clipping of coins) of the currency.

Suggested Citation

  • Barnett, Richard C. & Bessler, David A. & Thompson, Robert L., 1981. "Agricultural Prices in the 1970's and the Quantity Theory of Money," 1981 Annual Meeting, July 26-29, Clemson, South Carolina 279398, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    • Handle: RePEc:ags:aaea81:279398
    DOI: 10.22004/ag.econ.279398
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    References listed on IDEAS

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    1. David A. Bessler & Lee F. Schrader, 1980. "Relationship between Two Price Quotes for Eggs," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 62(4), pages 766-771.
    2. Harberger, Arnold C, 1978. "A Primer on Inflation," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 10(4), pages 505-521, November.
    3. Bordo, Michael David, 1980. "The Effects of Monetary Change on Relative Commodity Prices and the Role of Long-Term Contracts," Journal of Political Economy, University of Chicago Press, vol. 88(6), pages 1088-1109, December.
    4. John A. Schnittker, 1973. "The 1972-73 Food Price Spiral," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 4(2), pages 498-507.
    5. Patinkin, Don, 1969. "The Chicago Tradition, the Quantity Theory, and Friedman," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 1(1), pages 46-70, February.
    6. Joan Robinson, 1933. "The Theory of Money and the Analysis of Output," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 1(1), pages 22-26.
    7. Granger, C. W. J. & Newbold, P., 1974. "Spurious regressions in econometrics," Journal of Econometrics, Elsevier, vol. 2(2), pages 111-120, July.
    8. G. Edward Schuh, 1974. "The Exchange Rate and U. S. Agriculture," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 56(1), pages 1-13.
    9. Dale E. Hathaway, 1974. "Food Prices and Inflation," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 5(1), pages 63-116.
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    Cited by:

    1. Seale, James L., Jr. & Moss, Charles B., 1989. "The Overshooting Hypothesis: Are Agricultural Exports More Sensitive?," 1989 Annual Meeting, July 30-August 2, Baton Rouge, Louisiana 270704, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).

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