John Locke: Some Considerations of the Consequences of the Lowering of Interest, and Raising the Value of Money (1691)

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Chapter 26 in A Source Book on Early Monetary Thought, 2020, pp 177-193 from Edward Elgar Publishing

Abstract: 11,800 words. Locke spells out the theory of supply and demand, the quantity theory, and the loanable funds theory of the interest rate. He argues it is impossible to lower the interest rate by law without creating unintended consequences. He criticizes government inflation of the money supply.

Keywords: Economics and Finance; Politics and Public Policy (search for similar items in EconPapers)
Date: 2020
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