QUOTE : Wieser expressly refers to the incomplete nature of the previous treatment. In his criticism of the Quantity Theory he argues that the Law of Supply and Demand in its older form, the application of which to the problem of money constitutes the Quantity Theory, has a very inadequate content, since it gives no explanation at all of the way in which value is really determined or of its level at any given time, but confines itself without any further explanation merely to stating the direction in which value will move in consequence of variations in supply or demand;