Chapter 33: David Hume: Of Money (1752)
Edward W. Fuller
Category:
Monograph Chapter
Published:
13 Nov 2020
Page Range:
260–266
Collection:
Economics 2020
DOI:
https://doi.org/10.4337/9781839109997.00039
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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.

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Cover A Source Book on Early Monetary Thought
A Source Book on Early Monetary Thought
Edited by
Edward W. Fuller
Monograph Book
Published:
13 Nov 2020
Print ISBN:
9781839109980
eISBN:
9781839109997
DOI:
https://doi.org/10.4337/9781839109997
Pages:
336
Collection:
Economics 2020
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