"[
What is Money?
and
The Credit Theory of Money
is] the best pair of articles on the nature of money written in the twentieth century."
-L. Randall Wray, professor of Economics, Bard College (2004)
(1913) is one of two important articles written by British economist Alfred Mitchell-Innes about money and credit. This publication includes a positive review by John Maynard Keynes. Together with Mitchell-Innes' other article,
(also available from Cosimo Classics), it influenced Modern Monetary Theory, which states that governments can print as much money as they need without having to borrow or tax to finance spending.
is essential reading for students of monetary theories and economic history.