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Larry Moss said: 
 
<< For example, among the classical school writers the quantity tradition 
held that an overall rise in prices, initiated perhaps by a generalized 
rise in wages, would not stick unless the overall supply of cash (liquid) 
balances were increased as well.>> 
 
This is rather more a "Real Bills" causality than the standard M to P 
causality of the QTM.  There are those that consider "Real Bills" to be a 
"quantity" theory of sorts, but the P to M causality and the strict 
assumption of endogenous money is definitely in diametric opposition to the 
fundamental propositions of the QTM. 
 
Chas Anderson 
 
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