“Every time you use a banknote; every time you use a modern coin; every time you use a credit card or debit card; every time you use internet banking; every time you use any modern crypto currency; every time you use a gift voucher; every time you use a poker chip; in fact, every time you enter into any form of transaction that does not rely on bartering, each such transaction has its ideological origins in John Law’s idea that money need have no intrinsic value.” CoinsBankingPaper MoneyCredit CardsBarterFiat MoneyJohn LawMoney And Trade ConsideredMississippi CompanyMississippi Scheme Book:John Law: The Lauriston Lecture and Collected Writings Source: John Law: The Lauriston Lecture and Collected Writings
“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 Source: John Law: The Lauriston Lecture and Collected Writings