Information, Finance, and Markets
回顾了金融因素在经济学理论中从核心到边缘的演变，指出当前主流理论如真实商业周期理论忽视了金融机构的作用，而新古典理论则将金融分析简化为货币供给控制。
Bankers and businessmen have long recognized the importance of finance, financial constraints, and financial institutions for the vitality and growth, both of their enterprises and of the economy. Yet, while these financial factors may have played a central role in economic theories of the nineteenth and eary twentieth centues [see for example Hawtrey (1919)] for almost a half century they have been subordianted to a secondary role by economic theorists. In seeking to explain business cycles, the most recent fashion among American academic economists—real business cycles—attributes no role at all to financial institutions; while in the earlier new classical theories (and even much of Keynesian theroy 2 ) all financial analysis is subsumed under the control of the money supply.