... volume of money, money volume minus idle balances, and turnover velocity, and, on the other hand, the ‘total monetary demand’, which is nothing other than the ‘general demand’ of the price theory ... approach, and the quantity theory of money was modified, in a further step of adaptation, to the so-called income theory, relating not the volume of money, but money incomes to the aggregate demand; ... caused) by deflationary processes really exist; on the other hand, the role of money in the ups and downs of business remained, for most of the writers, rather nebulous In the United States, the...