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Money and Trade Consider'd

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Money and Trade Consider'd

With a Proposal for Supplying the Nation with Money

Authored by John Law (1705)

This 138-page book is professionally typeset and readable. It includes a detailed biography of John Law and a description of the Mississippi bubble by Charles Mackay (1852), describing Law's life, rise and fall.

John Law (1705) proposed to supply the nation with a sufficiency of money to stimulate trade and increase employment and production. He stressed - in opposition to the metal-based hard-money tradition - that money is merely a governmental standard, that it has no intrinsic value like a metal, money's only function being that of a medium of exchange and not any store of value for the future.

Whereas Luca Pacioli's (1494) contribution was that of double-entry bookkeeping, John Law's model applied the technique to modern banking for the purpose of deposit-money creation grounded on the pledge of land. Many a castle along the Loire River was acquired under his regime, until the avarice of the Regent of France broke his Banque Royale. John Law is crowned by authors of the Mises Institute - as the Proto-Keynesian.

Publication Date:
1508816247 / 9781508816249
Page Count:
Binding Type:
US Trade Paper
Trim Size:
6" x 9"
Black and White
Related Categories:
Business & Economics / Banks & Banking

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