The monetary economics of Jules Dupuit

Guy Numa

The European Journal of the History of Economic Thought, 2016, vol. 23, issue 3, 453-477

Abstract: This paper analyses Dupuit's views on money, bimetallism, free banking and credit. By means of textual and contextual analysis, I argue that Dupuit endorsed the quantity theory based on the neutrality of money. For him, the value of money was determined by supply and demand. The only exception concerned the redistributive effects of gold between trading nations. Dupuit's approach to credit and his views on the issuance of banknotes were distinct from those of most French liberals. He did not consider credit to be capital, and he warned against the overissue of banknotes.

Date: 2016
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DOI: 10.1080/09672567.2014.951673

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