ABSTRACT
A century after Thornton (1802), monetary economics came to the fore with Wicksell (1898), and the influence on economic theory was powerful, above all in the 1920s-1930s.
In this chapter we set out to examine that strand of thought, taking in Keynes, Myrdal and Hayek as well as Wicksell. How did Wicksell’s theory influence them? How did they evaluate it as monetary economics, and in doing so come to take a critical stance on the neoclassical orthodoxy?
