Publication details

Mill on Credit, Prices and Cycle

Authors

MENŠÍK Josef

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

Faculty of Economics and Administration

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.

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