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Mill et la crise de 1825


  • Alain Béraud

    () (THEMA - Théorie économique, modélisation et applications - Université de Cergy Pontoise - CNRS - Centre National de la Recherche Scientifique)


This article studies the crisis which, in 1825, affected the English economy and the works that John Stuart Mill, Thomas Tooke and John Ramsay McCulloch dedicated to its analysis. McCulloch and Tooke maintain that the organization of the English banking system played, if not in the origin at least in the development of the crisis, a remarkable role. Mill, on the contrary, thinks that the crisis is the effect of over-trading and that it would have developed as well in a system where the currency would have consisted in species. This crisis is for him a credit crisis. This analysis which seems the best to give a full account of this crisis is, besides, the most innovative. The article clarifies its implications for the monetary theory and for the analysis of business cycles.

Suggested Citation

  • Alain Béraud, 2013. "Mill et la crise de 1825," Post-Print halshs-00865697, HAL.
  • Handle: RePEc:hal:journl:halshs-00865697
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    References listed on IDEAS

    1. Florent Venayre, 2011. "La détermination des sanctions dans les ententes sur appels d'offres en l'absence de contestation des griefs," Post-Print halshs-00645275, HAL.
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    3. Florent Venayre & Christian Montet, 2013. "La concurrence à Tahiti : Une utopie ?," Post-Print halshs-00918171, HAL.
    4. repec:dau:papers:123456789/13637 is not listed on IDEAS
    5. Florent Venayre, 2012. ""Nous, au village, aussi, l'on a, De beaux assassinats"... Ou l'entente saint-pierraise et ses enseignements en matière de sanctions et de non-contestation des griefs," Post-Print halshs-00739141, HAL.
    6. Christian Montet & Florent Venayre, 2012. "Politique de la concurrence dans les petits pays insulaires : Le rapport pour le Forum du Pacifique," Post-Print halshs-00722665, HAL.
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    8. Patrice Bougette & Christian Montet & Florent Venayre, 2006. "L'efficacité économique des programmes de clémence," Post-Print halshs-00476807, HAL.
    9. Patrice Bougette & Christian Montet & Florent Venayre, 2006. "Jeux de négociation dans les affaires antitrust : engagements et transaction," Post-Print halshs-00476774, HAL.
    10. Florent Venayre, 2011. "Les lacunes du transfert de la compétence économique à la Polynésie française," Post-Print halshs-00652154, HAL.
    11. Florent Venayre, 2012. "Interventionnisme public et handicaps de compétitivité: analyse du cas polynésien," Post-Print halshs-00695278, HAL.
    12. Florent Venayre, 2012. "Concentration dans la distribution alimentaire en Martinique : jusqu'où prendre en considération les spécificités ultramarines ?," Post-Print halshs-00777709, HAL.
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    More about this item


    Crisis; financial crisis; Crise; crise financière; spéculation; Mill; Tooke; McCulloch;

    JEL classification:

    • B12 - Schools of Economic Thought and Methodology - - History of Economic Thought through 1925 - - - Classical (includes Adam Smith)
    • B31 - Schools of Economic Thought and Methodology - - History of Economic Thought: Individuals - - - Individuals
    • E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
    • G01 - Financial Economics - - General - - - Financial Crises
    • N13 - Economic History - - Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations - - - Europe: Pre-1913

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