Mill, Tooke, McCulloch et la crise de 1825

Alain Beraud

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Abstract: This article studies the crisis which, in 1825, affected the English economy and the works that John Stuart Mill, Thomas Tooke and John Ramsay McCulloch dedicated to his analysis. While McCulloch refers, for explaining it, to the ricardian tradition, Mill and Tooke deviates from it and doubtless the former more than the latter. McCulloch and Tooke maintain that the organization of the English banking system played, if not in the origin at least in the development of the crisis, a remarkable role. Mill, on the contrary, thinks that the crisis is the effect of over-trading and that it would have developed as well in a system where the currency would have consisted in species. He advances ideas which will be taken back and developed by the Banking School.

Keywords: Mill; Tooke; McCulloch; crise; spéculation; overtrading; Banking School; crisis (search for similar items in EconPapers)
Date: 2013-03
Note: View the original document on HAL open archive server: https://shs.hal.science/halshs-00387078v2
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Published in Revue d'économie politique, 2013, 123 (2), pp.237-264

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Working Paper: MILL, TOOKE, MCCULLOCH ET LA CRISE DE 1825 (2009)
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