Monetary orthodoxy and heterodoxy: the question of currency neutrality
Abstract
The paper reviews the controversies on the neutrality/non-neutrality of money in the History of Economic Thought establishing criteria for the classification of orthodoxy and heterodoxy, especially in what concerns monetary issues. The article emphasizes the non-neutrality of money on the perspective of the Marxian monetary theory of inflation, making its point on the differences of the Monetarist theory of inflation.
JEL Classification: E4; E5; E11; E12; E40; E50.
Keywords: Currency neutrality of money non-neutrality of money monetary orthodoxy monetary heterodoxy