The Role of Money and Monetary Policies in the Economy

The role of money and monetary policies has been one of the offer debuted issues in development economics for long. Despite schunpeter’s  dramatization of money and credit as phenomenon of development the nature of momentary policy   remained ill-defined until reticently, for two reasons, for one thing monetary policy was relieved in a narrow perspective as  influencing aggregate demand in the regulation of interest rate credit availability and credit allocation for another, views on the  rode of money and monetary policy  was dominated  by then prevailing perception of the growth process himself,  and modern growth theory had not yet assigned a meaning full function to money. But Dr Robert moxiu looks at the role of money   from the perspective that it services several purpose in the society. [Read more…]