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Discusses the neoclassical dichotomization of economic theory. Comparison of the classical school with the neoclassical school of economics; Substantive alteration of the classical monetary theory; Interpretation of the quantity theory in neoclassical terms.

Presents differences between Keynes and the Neoclassics derived from implicit assumptions about relative speeds of adjustment prices and quantities in response to changes in demand. Difference between the spot market and the forward market; Two major cases when forward price may not equal the flow-supply price; Effects of changes in the money supply on gross national product and price level associated with any given flow of aggregate production.