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Money and trade considered cover

Money and trade considered

By John Law
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Economics

About This Book

The work analyzes the nature and functions of money, explaining why certain metals served as standards and how money enables valuation, exchange, and enforceable contracts. It surveys the limits of barter and the role of coinage and uniform standards in easing transactions across places. The author links the quantity and quality of money to trade, prices, and the division of labor, and critiques policies aimed at preserving metallic reserves. He advances proposals for transferable credit, bank-issued notes, and organized banking to expand the money supply and invigorate commerce while outlining safeguards needed to sustain public confidence.

About the Author

Law, John portrait

John Law

John Law was a Scottish economist and financier, best known for his influential work in the early 18th century on monetary theory and trade. His notable book, "Money and Trade Considered," explores the relationship between currency and commerce, advocating for the use of paper money to stimulate economic growth. Law's ideas were revolutionary for his time and contributed to the development of modern economic thought. He is often remembered for his role in the Mississippi Bubble, a financial scheme that ultimately led to his downfall, but his writings continue to be studied for their insights into monetary policy and economic systems.

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