Isaac Gervaise: The System or Theory of the Trade of the World (1720)

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Chapter 28 in A Source Book on Early Monetary Thought, 2020, pp 206-216 from Edward Elgar Publishing

Abstract: 6,500 words. Gervaise states the specie-flow-price mechanism for the first time. He argues that increasing the money supply through the banking system causes domestic and international disequilibrium. Thus, it is impossible to make a nation wealthy through banking policy. He criticizes fractional reserve banking.

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