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Cantillon And Hume On Money And Banking: The Foundations Of Two Theoretical Traditions

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  • Laurent Le Maux

    () (LED - Laboratoire d'Economie Dionysien - UP8 - Université Paris 8 Vincennes-Saint-Denis)

Abstract

The distinction between the ‘classical' monetary theory and ‘quantity' theory has been proposed in literature on money and banking. The overall feature of the classical theory of money is that it holds one principle of regulation for each kind of issue (metallic money, bank issues and paper money) whereas the quantity theory applied the causality and proportionality postulates for all kinds of monies. Without claiming to adjudicate the validity of such a distinction, the paper investigates the foundation of each tradition. In this respect, this paper, respectively, examines, and provides a survey of the secondary literature on, Cantillon's Essai and the Hume's Discourses.

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  • Laurent Le Maux, 2014. "Cantillon And Hume On Money And Banking: The Foundations Of Two Theoretical Traditions," Post-Print hal-01397052, HAL.
  • Handle: RePEc:hal:journl:hal-01397052
    Note: View the original document on HAL open archive server: https://hal.archives-ouvertes.fr/hal-01397052
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    Cited by:

    1. Laurent Le Maux, 2015. "Banks as Accelerators of the Circulation of Money," Eastern Economic Journal, Palgrave Macmillan;Eastern Economic Association, vol. 41(4), pages 537-546, September.
    2. Spahn, Peter, 2018. "Was war falsch am Merkantilismus?," Hohenheim Discussion Papers in Business, Economics and Social Sciences 26-2018, University of Hohenheim, Faculty of Business, Economics and Social Sciences.

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