haku: @indexterm Monetary economics / yhteensä: 201
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| Tekijä: | Skaggs, N. |
| Otsikko: | Dent as the basis of currency: the monetary economics of trust |
| Lehti: | American Journal of Economics and Sociology
1998 : OCT, VOL. 57:4, p. 453-468 |
| Asiasana: | SOCIOLOGY MONETARY ECONOMICS DEBT |
| Kieli: | eng |
| Tiivistelmä: | Even more than most nineteenth-century economists, Henry Dunning Macleod recognized the importance of trust in a properly functioning monetary system. Macleod developed a credit theory of money in which he argued that money originated as a debt claim against society. The value of money depends on the willingness of economic agents to accept it, no matter what material the money is made of. Macleod applied this theory to the evaluation of other systems in which money is not based on debt. |
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