History of The Concept
According to Don Patinkin, the concept of monetary neutrality goes back as far as David Hume. The term itself was first used in the 1920s and 1930s by continental economists, and exploded as a special topic in the English language economic literature upon Friedrich Hayek's introduction of the term and concept in his famous 1931 LSE lectures published as Prices and Production. Keynes rejected neutrality of money both in the short term and in the long term.
Read more about this topic: Neutrality Of Money
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