Can Monetary Disequilibrium be Eliminated?

2011-07-01T00:00:00Z (GMT) by Allan Meltzer

We are indebted to Professors Greenfield and Yeager for their continuing attention to fundamental aspects of monetary theory. Their work forces each of us to consider or reconsider such basic issues as the role of money, the conditions for existence of a price level, limits to the role of government in the monetary process, and the costs of achieving the social benefits provided by a monetary system.