Economics of money and banking

In the years since the publication of the first edition, this book has become one of the best-known texts in its field and has been adopted widely in colle ges and universities around the world. Now fully revised to bring it up to date, it remains a comprehensive, readable, introductory text which selects the most important principles, process and pro blems in the field of money and bank ing and deals with them from the point of view of theory, institutions, and history.

As indicated in his preface to the book, the author well understands that the ultimate central interest of such a text must be in the formation of money and banking policies in the countries of the world. Therefore the book's aim is "not only to explain how present-day structures, attitudes, and policies evolved but also to suggest some possible directions of future changes." Although by no means ignoring the needs of those students who have only a broad cultural interest in the subject, the author is particularly addre ssing himself to future leaders in bank ing and finance when he says: "They will be better citizens if from the begin ning they see their profession in its broad economic and social context and understand both the effects of their own actions on the functioning of the economy and the effects of govern ment monetary and fiscal policies."

Writing with these aims and viewpoints in mind, the author has produced a basic money and banking text that will prove of value to the students of all countries.

Also included are 35 figures and tables, with selected reading lists at the end of the chapters.

Lester V. Chandler, a Yale Ph. D. and now, the Gordon S. Rentschler Profe ssor of Economics at Princeton Uni versity, is well known to college tea chers and students of economics for a number of outstanding books, includ Ing introduction to Monetary Theory, A Preface to Economics, and inflation in the U.S., 1950-1958. He is also the co author, with William J. Baumol, of Economic Processes and Policies.