Teoria pieniądza w dorobku Edwarda Taylora

Abstract

The authoress presents monetary problems in which E. Taylor was engaged in tens of years of his scientific activity. The following are discussed: internal value of money, rate of money circulation, external value of money, theory of four lines of Edward Taylor, i.e. his general theory of inflation as well as his views on monetary- credit policy and relations of currency to the international exchange. Trying to realize the task of the article, the authoress focused on the essential output of E. Taylor in the range of money theory. Thus three questions were underlined: whether and to what extent the thought of E. Taylor differed from his contemporaries, to what extent it is accordant with the interpretations of a certain problems presently, what is his contribution to the theory of money. Edward Taylor was a nominalist. He emphasised the credit function of money and the fact that it constitutes an important element of the economic system. He treated money as it is done nowadays already 60 years ago. He can be ranked among the cocreators of the income theory of money.