ABSTRACT
The term “expansionism” is used in general to indicate all the various proposals which seek to increase prosperity through an increase in the volume of the means of payment. It is necessary, however, to discriminate between those who propose to expand currency and credit for productive purposes and those who advocate the expansion of the consumer’s purchasing power. The former may be termed the credit expansionist school, while the latter are adherents of either the income expansion school or the spending school. In this chapter we are concerned only with the monetary reformers who advocate an expansion of credit for the purposes of production.
