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Periodical article Periodical article Leiden University catalogue Leiden University catalogue WorldCat catalogue WorldCat
Title:Wages, money and inflation
Authors:Moore, B.J.
Smit, B.W.ISNI
Year:1986
Periodical:South African Journal of Economics
Volume:54
Issue:1
Pages:80-93
Language:English
Geographic term:South Africa
Subject:inflation
External link:https://doi.org/10.1111/j.1813-6982.1986.tb00859.x
Abstract:It is argued here that the Final Report (1985) of the Commission of Inquiry into the Monetary System and Monetary Policy in South Africa is founded on a partially incorrect paradigm of how modern banking systems operate, and on a misunderstanding of the causal connections between changes in wages, prices and monetary aggregates: the growth of money supply is held to be the main force determining the rate of growth of nominal income, prices and wages. The authors argue that this order of causation should be competely reversed. Bibliogr., notes.
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