Chris' theory of quality not quantity when it comes to playing delicate notes on the keys seems to be working remarkably well.
The amount of money demanded is assumed to vary with income (and, in this naive version of quantity theory, with nothing else).
It shows monetary base and nominal GDP since the recession began; if any kind of quantity theory applied, these should have gone up in tandem.
He had earlier reinterpreted the demand for money as an exercise in portfolio choice, for example in his paper, The Quantity Theory of Money - A Restatement, in the book of essays Studies in the Quantity Theory of Money (1956), which he edited; though this was not, in reality, that much of a break with Keynesian ideas.
Simply put, the quantity theory of money stated that inflation or deflation could be controlled by varying the quantity of money in circulation inversely with the level of prices.
Quantity theory of money, economic theory relating changes in the price levels to changes in the quantity of money.
IN ONE of his short stories, "The Quantity Theory of Insanity", Will Self suggests that there is a fixed amount of craziness in the world.
An early formulation of this insight was expressed in the quantity theory of money, which hinges on the distinction between the nominal (face) and real values, or quantity, of money.
According to the quantity theory of money, what ultimately matters to holders of money is the real rather than the nominal quantity of money.
See Friedman's obituary, quantity theory of money.
