The Quantity Equation and the Classical theory of production and distribution: Edward J. Nell

Following Sraffa, the Classical approach has been revived and redeveloped. But the Quantity Equation has fallen into the hands of Monetarists, and ‘New Classicals’. This chapter proposes to rescue the Quantity Equation and show that, in the right circumstances, it is indeed a true and proper consort for the Classical Theory of Production.