Reprinting the second edition (which included a new introduction explaining developments which had emerged since first publication) this book discusses explorations in the fundamental theory of a monetary economy, a theoretical critique of the 'Phillips Curve' approach to the theory of inflation and the theory of the term structure of interest rates in terms of the theory of forward markets pioneered by David Meiselman.

Reprinting the second edition (which included a new introduction explaining developments which had emerged since first publication) this book discusses:

• explorations in the fundamental theory of a monetary economy
• a theoretical critique of the 'Phillips Curve' approach to the theory of inflation
• the theory of the term structure of interest rates in terms of the theory of forward markets pioneered by David Meiselman.

"It brings together the major, and not insignificant contributions of a leading economist in the field of monetary economics." - International Affairs