Adam Smith on Money and Exchange (Illustrated) by James Mill

Adam Smith on Money and Exchange (Illustrated)

byJames Mill

Kobo ebook | November 17, 2014

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James Mill made essential contributions to social theory, political theory and political economy as a Scottish historian, economist, political theorist, and philosopher. He was a founder of classical economics along with David Ricardo and his son John Stuart Mill. James Mill published his influential History of British India in 1818 that contains a complete denunciation and rejection of Indian culture and civilization.

One of the most important questions discussed in the early 1800's was the state of the currency in the light of the restriction of gold payments introduced by the Bank of England in 1793, and renewed throughout the war.

In 1804, James Mill published SMITH ON MONEY AND EXCHANGE to address the concerns of the state of currency under the restriction of gold payments that was introduced by the Bank of England in 1793.  Adam Smith in the Wealth of Nations argued that a certain quantity of money was required to produce wealth of a nation and addition to the circulation in the form of paper money would merely lead to the export of the precious metals. Mill supported Smith point and believed that the quantity of money in circulation was controlled by the true needs of the community. It appears that the recent QE operations in the United also supports this theory discussed in the essay.

The essay is James Mill’s influential contributions to the monetary theory of classic economics. It is one of the most widely read of all books on economic theory in the world as Principles of Economics by Alfred Marshall and On the Principles of Political Economy by John Stuart Mill.

Using his writings, James Mill became one of the greatest minds who helped build the foundation of a new form of democratic society in human history that is prevailing and failing communism and socialism around the world.

This is a must-read book for people who are interested in the deepest thoughts about the monetary subjects of economics by Adam Smith and James Mill, two of the greatest thinkers on the planet.



Title:Adam Smith on Money and Exchange (Illustrated)Format:Kobo ebookPublished:November 17, 2014Publisher:AS TeamLanguage:English

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