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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.

KEYWORDS:
Currency; neutrality of money; non-neutrality of money; monetary orthodoxy; monetary heterodoxy

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