A TRACT ON MONETARY REFORM.

First edition 2nd impression: 209 pages + 2 pages publisher’s catalogue, blue cloth boards, titled gilt on the spine – the front cover is scuffed and worn, the spine is slightly frayed at the top and the bottom, a good copy.

In A Tract on Monetary Reform John Maynard Keynes proposed to use the monetary base and the reserve-deposit ratio as main instruments of a monetary policy considered until then as not required. Beyond the concept of cycle credit developed in this book we find the first steps leading towards the notion of liquidity preference enlarged in A Treatise on Money and fully defined in the general theory such us we are presently using it. At the same time A Tract foresees the end of a process through which money and foreign reserves have became in many countries practically fiduciary losing any relation with gold. Consequently, this work tries to call attention towards A Tract which displays to the reader some of the first contributions of Keynes towards the progress of economics. https://ideas.repec.org/p/bar/bedcje/199828.html