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Money and the Structure of Credit in the Eighteenth Century

Money and the Structure of Credit in the Eighteenth Century MONEY AND THE STRUCTURE OF CREDIT IN THE EIGHTEENTH CENTURY by B. L. ANDERSON -G the eighteenth century the English monetary and credit system can be seen to possess all those elements which have proved essential in main- taining the growth of economic activity in modern industrial societies. Instruments of credit and exchange in a financial organization of growing sophisti- cation worked their way through a number of important regions and sectors of the economy and for the &st time began to align themselves in complex fashion with commercial and industrial impulses to expansion. It has for long been custom- ary to recognize in the growth of markets for financial 'paper' a prominent feature of the early stages of economic growth; but genuine attempts to coordin- ate the theory of finance with 'real' analysis in order to isolate the implications of this aspect of the growth process have only recently become the object of wider attention.' This, together with other post-Keynesian developments in monetary theory, particularly the portfolio approach to the demand for money, is a timely reminder to economic historians to look again at the processes by which money and credit are created. For it is now clear http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Business History Taylor & Francis

Money and the Structure of Credit in the Eighteenth Century

Business History , Volume 12 (2): 17 – Jul 1, 1970

Money and the Structure of Credit in the Eighteenth Century

Business History , Volume 12 (2): 17 – Jul 1, 1970

Abstract

MONEY AND THE STRUCTURE OF CREDIT IN THE EIGHTEENTH CENTURY by B. L. ANDERSON -G the eighteenth century the English monetary and credit system can be seen to possess all those elements which have proved essential in main- taining the growth of economic activity in modern industrial societies. Instruments of credit and exchange in a financial organization of growing sophisti- cation worked their way through a number of important regions and sectors of the economy and for the &st time began to align themselves in complex fashion with commercial and industrial impulses to expansion. It has for long been custom- ary to recognize in the growth of markets for financial 'paper' a prominent feature of the early stages of economic growth; but genuine attempts to coordin- ate the theory of finance with 'real' analysis in order to isolate the implications of this aspect of the growth process have only recently become the object of wider attention.' This, together with other post-Keynesian developments in monetary theory, particularly the portfolio approach to the demand for money, is a timely reminder to economic historians to look again at the processes by which money and credit are created. For it is now clear

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Publisher
Taylor & Francis
Copyright
Copyright Taylor & Francis Group, LLC
ISSN
1743-7938
eISSN
0007-6791
DOI
10.1080/00076797000000001
Publisher site
See Article on Publisher Site

Abstract

MONEY AND THE STRUCTURE OF CREDIT IN THE EIGHTEENTH CENTURY by B. L. ANDERSON -G the eighteenth century the English monetary and credit system can be seen to possess all those elements which have proved essential in main- taining the growth of economic activity in modern industrial societies. Instruments of credit and exchange in a financial organization of growing sophisti- cation worked their way through a number of important regions and sectors of the economy and for the &st time began to align themselves in complex fashion with commercial and industrial impulses to expansion. It has for long been custom- ary to recognize in the growth of markets for financial 'paper' a prominent feature of the early stages of economic growth; but genuine attempts to coordin- ate the theory of finance with 'real' analysis in order to isolate the implications of this aspect of the growth process have only recently become the object of wider attention.' This, together with other post-Keynesian developments in monetary theory, particularly the portfolio approach to the demand for money, is a timely reminder to economic historians to look again at the processes by which money and credit are created. For it is now clear

Journal

Business HistoryTaylor & Francis

Published: Jul 1, 1970

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