Liquidity Theory of Money by Radcliffe: Statement, Radcliffe Report and Evaluation | Economics
In this article we will discuss about:- 1. Statement of the Theory 2. Radcliffe Report 3. Gurley-Shaw Thesis 4. Evaluation. Statement of the Theory: During the 1950's, the publication of Radcliffe Committee's Report in England and the work by Gurley and Shaw in the United States questioned the adequacy of existing monetary theory to serve as a guide for monetary [...]