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| Author: | Ritzmann, F. |
| Title: | Money, a substitute for confidence? |
| Journal: | American Journal of Economics and Sociology
1999 : APR, VOL. 58:2, p. 167-192 |
| Index terms: | RISK UNCERTAINTY MONEY |
| Language: | eng |
| Abstract: | From Rice Vaughan, 1675: "The first invention of Money was for a Pledge and instead of a Surety" to John Maynard Keynes, 1937: "Our desire to hold money as a store of wealth is a barometer of the degree of our distrust," there is a tradition of monetary theory linking the demand for money with the state of confidence. In the early nineteenth century, Henry Thornton and Thomas Attwood analyzed the shifts in precautionary demand for money and their implications for money supply, production, employment, and the balance of payments. |
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