Inflation and Monetary Constitutions in Historical Perspective

Peter Bernholz

Kyklos, 1983, vol. 36, issue 3, 397-419

Abstract: ‘[The] power [to alter the quantity of money] should neither be entrusted to the state itself, nor to anybody in it; as there can be no security for the uniformity in the value of currency, when its augmentation or diminuation depends solely on the will of the issuers.’ David Ricardo [1816; in 1962, vol. 4, p. 691

Date: 1983
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