Monetary Theory Before Adam Smith

"Monetary Theory Before Adam Smith" is a comprehensive survey of the evolution of economic thought regarding money and credit prior to the publication of the "Wealth of Nations". Arthur Eli Monroe meticulously traces the development of monetary concepts from the contributions of ancient Greek and Roman philosophers through the Middle Ages, the Renaissance, and the era of the Mercantilists.

The work explores critical themes such as the origin and functions of money, the nature of value, theories of interest, and the early debates surrounding currency debasement and bimetallism. By examining the writings of the Scholastics and the influential thinkers of the seventeenth and eighteenth centuries, Monroe demonstrates how early theories shaped the foundations of classical economics. This scholarly analysis provides essential insight into how the understanding of medium of exchange, capital, and price levels transitioned from moral philosophy to a structured economic science. It serves as an invaluable resource for students and historians interested in the intellectual roots of financial systems and the pre-classical period of economic history.

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