The article compares the analyses of money supply by Augusto Graziani and Paolo Sylos Labini. Both authors criticised neoclassical monetary theory highlighting the endogenous nature of money supply. However, they explained the sources of money supply differently, in view of their different approach towards the Classical, heterodox neoclassical and Keynesian traditions. The analysis of both authors' works highlights the fecundity of a stage in Italy's economic thought that would seed into several promising developments.

JEL Classification: H55, D64, B31