Monetary Policy: Ends and Means by Paul Einzig (Vintage 1967 Edition)

“Monetary Policy: Ends and Means” is a book written by economist Paul Einzig, first published in 1962. The book provides an in-depth analysis of the goals and tools of monetary policy, and their impact on the economy.

Einzig argues that the primary goal of monetary policy should be to maintain price stability, and that this can be achieved through a combination of fiscal and monetary measures. He also discusses the role of central banks in implementing monetary policy, and the need for transparency and accountability in their decision-making processes.

The book provides a detailed overview of the different tools available to central banks, such as open market operations, reserve requirements, and discount rates. Einzig also examines the impact of monetary policy on various sectors of the economy, including interest rates, inflation, employment, and international trade.

Overall, “Monetary Policy: Ends and Means” is a comprehensive and insightful analysis of the goals and tools of monetary policy, and provides a valuable resource for policymakers, economists, and anyone interested in understanding the role of monetary policy in the economy.