Money, Credit, and Commerce

Among Alfred Marshall’s areas of expertise was monetary analysis, but he did not have the opportunity to publish a systematic presentation of his views until his later years. Money, Credit, and Commerce , devoted to this subject, was his last major work. Among the proposals made in this work for which he is most remembered is the adoption of ‘symmetalism’, a plan for the combined use of gold and silver as the monetary base. Marshall also expressed his views on the relation of business fluctuations and the credit market to general unemployment. He saw reckless inflation of credit as the main cause of economic troubles. For students of economics and monetary policy Money, Credit, and Commerce remains a valuable book.