|||As will already be apparent, an exceptionally useful and attractive feature of this volume is Hagemann's introductory essay, which, dealing as it does with Hahn's life as well as his economies, and of course carrying the story of both beyond 1933, surely supe
L. Albert Hahn published the first edition of the Economic Theory of Bank Credit in 1920 and a radically revised third edition in 1930. Economic Theory of Bank Credit is a clear exposition of a theory of credit and stands in the tradition of Harley Withers, Henry Macleod, and Knut Wicksell. A theory of credit recognizes that banks are not only intermediaries of savings but in fact create money themselves. This idea is paired with a detailed account of the technical...
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