Benjamin Franklin and the Birth of a Paper Money Economy
AbstractPaper money has often been controversial and misunderstood. Why it has value, why that value changes over time, how it influences economic activity, who should be allowed to make it, how its use and creation should be controlled, and whether it should exist at all—are questions that have perplexed the public, vexed politicians, and puzzled economic experts. Knowing how, when, and why paper money first became commonplace in America and the nature of the institutions propagating it, can help us better comprehend paper money’s role in society. Benjamin Franklin (1706-1790) dealt often with this topic and his writings can teach us much about it.
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Bibliographic InfoPaper provided by University of Delaware, Department of Economics in its series Working Papers with number 07-01.
Length: 10 pages
Date of creation: Jan 2007
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Publication status: Published in Benjamin Franklin and the Birth of a Paper Money Economy. The Federal Reserve Bank of Philadelphia, 2007.
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- Farley Grubb, . "Benjamin Franklin and the birth of a paper money economy," Monograph, Federal Reserve Bank of Philadelphia, number 2006bfatboapm.
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- Farley Grubb, 2012.
"Chronic Specie Scarcity and Efficient Barter: The Problem of Maintaining an Outside Money Supply in British Colonial America,"
NBER Working Papers
18099, National Bureau of Economic Research, Inc.
- Farley Grubb, 2012. "Chronic Specie Scarcity and Efficient Barter: The Problem of Maintaining an Outside Money Supply in British Colonial America ," Working Papers 12-08, University of Delaware, Department of Economics.
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