Reply To: Keynes discovered non-neutrality of money?!


Richard Cantillon wrote about the non-neutrality of money in the first full treatise ever written on economics. Here is a new translation of the work, written in the early 1730s and published posthumously in 1755:

In fact, the non-neutrality of money, i.e., the production effects that occur when the money stock is increased, are called, “Cantillon Effects.”