Description
This summarization is about a book called "A Market Theory of Money" by Sir John Hicks. Hicks argues that there is a market for money, and that this market can be used to explain the way in which economic theory has been adjusted to reflect developments in the real economy.
In this book Nobel Laureate Sir John Hicks draws together the common threads of over fifty years of writing on monetary economics into a succinct statement of the fundamentals of monetary theory. Confronting the failure of both standard classical and neoclassical theory to fill the gap between monetary and non-monetary economics, he posits an idea of competitive markets that can be linked to the monetary sector, and explains the way in which economic theory has been adjusted to reflect developments in the real economy.
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