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Money And Trade Considered Quotes

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Money And Trade Considered Quotes

“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.”

Coins Banking Paper Money Credit Cards Barter Fiat Money John Law Money And Trade Considered Mississippi Company Mississippi Scheme

Book:John Law: The Lauriston Lecture and Collected Writings

Source: John Law: The Lauriston Lecture and Collected Writings

“John Law’s 'Money and Trade Considered' is the most influential but least acknowledged work in the history of economics.”

Economics Economist Paper Money Fiat Fiat Currency Fiat Money John Law Money And Trade Considered Gavin John Adams

Book:John Law: The Lauriston Lecture and Collected Writings

Source: John Law: The Lauriston Lecture and Collected Writings

“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.”

Economics Wealth Of Nations Adam Smith John Law Money And Trade Considered Gavin John Adams Paradox Of Value Water Diamond Paradox

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.”

Politics Economics Finance Monetary Policy John Law Economic Stimulus Money And Trade Considered Mississippi Scheme Money Supply Quantitive Easing

Book:John Law: The Lauriston Lecture and Collected Writings

Source: John Law: The Lauriston Lecture and Collected Writings