David Hume: Of the Balance of Trade (1752)

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Chapter 35 in A Source Book on Early Monetary Thought, 2020, pp 274-282 from Edward Elgar Publishing

Abstract: 5,400 words. Hume outlines the specie-flow-price mechanism. Banking policy cannot make a nation more prosperous. 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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