Exonerating Wicksell: A Comment on Ahiakpor

James Ahiakpor correctly identifies classical writers as the true originators of the cumulative process analysis usually attributed to Knut Wicksell. Ahiakpor fails, however, to dislodge Wicksell from his place in the pantheon of monetary theorists. Wicksell contributed at least five innovations tha...

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Veröffentlicht in:	The American journal of economics and sociology 1999-07, Vol.58 (3), p.459-465
1. Verfasser:	Humphrey, Thomas M.
Format:	Artikel
Sprache:	eng
Schlagworte:	Bank loans Cash Central banks Classical economics Credit Demand loans Economic models Economic theory History of economic thought Invited Symposium on the Foundations of Neoclassical Economics Knut Wicksell Loan rates Loans Monetary economics Monetary policy Monetary theory Neoclassical economics Price level changes Price levels Profits Quantity theory of money Reserve requirements Sociology Studies Wicksell, Knut (1851-1926)
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Zusammenfassung:	James Ahiakpor correctly identifies classical writers as the true originators of the cumulative process analysis usually attributed to Knut Wicksell. Ahiakpor fails, however, to dislodge Wicksell from his place in the pantheon of monetary theorists. Wicksell contributed at least five innovations that advanced the cumulative process model far beyond its classical prototype.
ISSN:	0002-9246 1536-7150
DOI:	10.1111/j.1536-7150.1999.tb03297.x