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John Law: The Lauriston Lecture and Collected Writings

Book by Gavin John Adams · 3 quotes · John Law, Money And Trade Considered, Economics

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John Law: The Lauriston Lecture and Collected Writings Quotes

“John Law’s role in resolving the Water Diamond Paradox has been largely forgotten. The name now associated with it is another Scottish economist, Adam Smith. Writing over seventy years after the publication of 'Money and Trade Considered', Smith’s celebrated restatement of the paradox of value, in 'An Inquiry into the Nature and Causes of the Wealth of Nations' is astonishing not for its originality, but for its similarity with John Law’s resolution decades before.”

EconomicsWealth Of NationsAdam SmithJohn LawMoney And Trade ConsideredGavin John AdamsParadox Of ValueWater Diamond Paradox
Book:John Law: The Lauriston Lecture and Collected Writings
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“Every time the politicians we elect attempt to increase our standard of living or employment prospects by increasing government spending to stimulate economic activity (‘Keynesian economics’ as it is called); and every time a national bank tries to increase our standard of living or employment prospects by stimulating economic activity by increasing the money supply (‘quantitative easing’ as it is called), each of those actions has its ideological origins in the ideas contained in John Law’s Money and Trade Considered, and the actions of John Law’s Mississippi Scheme.”

PoliticsEconomicsFinanceMonetary PolicyJohn LawEconomic StimulusMoney And Trade ConsideredMississippi SchemeMoney SupplyQuantitive Easing
Book:John Law: The Lauriston Lecture and Collected Writings
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