chapter  5
24 Pages

THE QUANTITY THEORY OF MONEY

If we give a passing view on the answer given up to now we shall see that it is rare to find a reference to an author of Spanish-American origin (Sayous 1928:289; Dempsey 1936:174; Höffner 1941; 1955; Ullastres Calvo 19412; Larraz [1943] 1963; Grice-Hutchinson 1952; 1978; Iparraguirre 1954; Schumpeter [1954] 1971; Sánchez Albornoz 1959:95; 1977; Sierra Bravo 1973; Gómez Camacho 1981:7; 1985:55; Baeck 1988). Philip II liked the title ‘Hispaniarum et Indiarum Rex’. Today they are different worlds though they are united in a common faith, language and history. Therefore there remains the ineluctable task for the Latin American economists of our time to look back to these early times and be responsible for all the specific works. Among them, one of the first questions that stands out is: what was the understanding of the Spanish-American thinkers on the revolution of prices?