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Ricardo's critique of Bentham's French manuscript: Secure currency versus secure banks

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  • Ghislain Deleplace
  • Nathalie Sigot

Abstract

After David Ricardo had argued against it, Jeremy Bentham's manuscript Sur les prix was never published. Our paper deals with the reasons of that disagreement. After having told the story of the manuscript, we compare its content and the critiques on both the positive analysis of the observed monetary situation and the normative analysis of an ideal monetary system. We show the theoretical divergence between two conceptions of money, Ricardo advocating a secure currency while Bentham favored secure banks. We conclude that Bentham's manuscript and Ricardo's comments may add to the present knowledge about these authors and classical monetary theory.

Suggested Citation

  • Ghislain Deleplace & Nathalie Sigot, 2012. "Ricardo's critique of Bentham's French manuscript: Secure currency versus secure banks," The European Journal of the History of Economic Thought, Taylor & Francis Journals, vol. 19(5), pages 733-764, October.
    • Handle: RePEc:taf:eujhet:v:19:y:2012:i:5:p:733-764
    DOI: 10.1080/09672567.2010.540349
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    1. Nathalie Sigot & Ghislain Deleplace, 2012. "From 'annuity notes' to bank notes: a change in Bentham's theory of money," History of Economic Ideas, Fabrizio Serra Editore, Pisa - Roma, vol. 20(1), pages 45-74.
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