David Hume: Of Money (1752)

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Chapter 33 in A Source Book on Early Monetary Thought, 2020, pp 260-266 from Edward Elgar Publishing

Abstract: 4,100 words. Hume explains that the quantity of money in a society is irrelevant and there is no such thing as an optimal money supply. There is never any benefit to increasing the money supply. He explains the specie-flow-price mechanism. He criticizes fractional reserve banking and argues for 100 percent reserve banking.

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