Mill on Credit, Prices and Cycle
| Authors | |
|---|---|
| Year of publication | 2007 |
| Type | Article in Proceedings |
| Conference | Jurečka, Václav (ed.), Ekonomie Johna Stuarta Milla, Sborník příspěvků ze semináře konaného u příležitosti 200. výročí narození J. S. Milla |
| MU Faculty or unit | |
| Citation | |
| Field | Economy |
| Keywords | J. S. Mill; credit; prices; cycle; monetary theory |
| Description | The paper reminds of Mill's theory of cycle fueld by credit based flexibility of the monetary system and Mill's explanation of "pure credit" type of monatary system is highly praised. However, the most important contribution of Mill for the understanding of money is found in his explanation of credit as a purchasing power - an early contribution to the credit theory of money tradition. |