The paper considers the historical contexts of Georg Knapp’s nominalistic theory of money, and reconstructs its basic arguments. The contemporaneous critical reactions to Knapp are analyzed, as well as some more recent versions of chartalism, and the strengths and weaknesses of the chartalist insights in monetary theory and policy.

Original languageEnglish
Pages (from-to)109-125
Number of pages17
JournalVoprosy Ekonomiki
Volume2015
Issue number3
DOIs
StatePublished - 1 Jan 2015

    Scopus subject areas

  • Finance
  • Economics and Econometrics

    Research areas

  • Austrian monetary theory, Chartalism, Knapp, Nominalism, Paper money, State theory of money

ID: 61896886