On Some Classical Monetary Controversies
Bibliographic Data
| ID | 4297969 |
|---|---|
| Authors | David Glasner (0000-0003-3325-400X, corresponding author) |
| Year | 1989 |
| Volume | 21 |
| Issue | 2 |
| Pages | 201-229 |
| Publication date | 1989-06-01 |
| Peer Reviewed | Yes |
| Open Access | No |
| Type | ARTICLE |
| Venue | History of Political Economy (JOURNAL) |
| Journal identifiers | ISSN: 0018-2702 • E-ISSN: 1527-1919 |
| Publisher | Duke University Press (PUBLISHER • US) |
| DOI | 10.1215/00182702-21-2-201 |
| OpenAlex | W2051366617 |
| Language | EN |
| Citations received | 14 |
| References cited | 17 |
This chapter uses the classical money model introduced in Chapter 2 to explain the different views of Adam Smith and David Hume on banking and the price-specie-flow mechanism (PSFM). These differences reappeared in the debates between the Banking School and the Currency School over Peel’s Bank Charter Act, the Banking School echoing Smith and the Currency-School echoing Hume. Smith’s theory of banking was also echoed by J. B. Say in his explaining his law of the markets. Say’s Law (Identity) is in fact analytically equivalent to Fullarton’s law of reflux. Cairnes’s Humean quantity-theoretic interpretation of the effects of gold discoveries in California and Australia is shown to be inferior to an interpretation consistent with a Smithian classical interpretation
Economics · Keynesian economics · Law and economics · Mathematical economics · Neoclassical economics · Positive economics · Economic Theory and Institutions · Economic Theory and Policy · Political Economy and Marxism
Simon Newcomb’s monetary theory
Irving Fisher, Simon Newcomb, and their plans to stabilize the dollar
Une théorie de la marque monétaire
The Place of J. S. Mill in the Development of British Monetary Orthodoxy
Government intervention
Free and Not So Free Banking Theories among the Classicals; or, Classical Forerunners of Free Banking and Why They Have Been Neglected
The Banking School and the Law of Reflux in General
The Classical Theory of Central Banking on Monetary Stability and Lending of Last Resort
Complementary Non-Quantity Theory Approaches to Money
The Real-Bills Doctrine in the Light of the Law of Reflux
Changing Views
John Fullarton's Law of Reflux and Central Bank Policy
Central Monetary Services Without Centralization
Classical Monetary Theory and the Quantity Theory
The economics of David Ricardo
British Monetary Orthodoxy in the 1870s
A Treatise on Political Economy in 1823
The Glasgow Edition of the Works and Correspondence of Adam Smith, Vol. 5
J. Laurence Laughlin and the Quantity Theory of Money
John E. Cairnes on the Effects of the Australian Gold Discoveries, 1851–73
A History of Banking Theory
The Classical Monetary Theory
Flexible Exchange Rates and the Balance of Payments
Adam Smith and the Specie‐flow Doctrine
| Unique citing works | 14 |
|---|---|
| Citations per year | 0,4 |
| Citation span | 1991 - 2025 (35) |
| Citation velocity | recent |
| Highly cited | No |
| Citation types | Neutral: 14 |