Cause and effect in the gold points mechanism: A criticism of Ricardo's criticism of Thornton

IF 0.6 3区经济学 Q4 ECONOMICS

European Journal of the History of Economic Thought Pub Date : 2007-03-01 DOI:10.1080/09672560601168363

Jérôme de Boyer des Roches

引用次数: 20

Abstract

Abstract Noting that it is Thornton, not Ricardo, who is the originator of the classical analysis of the gold points mechanism, this paper shows that Ricardo rejected this mechanism. This is done by considering his criticism of the causal link between deficits, the exchange rate and the price of gold. The paper first emphasizes Thornton's analysis of the links between gold points, bank risk and the high price of bullion. It is then shown how far Ricardo is led astray in his criticism of Thornton and his explanation of the high price of bullion and of the exchange market.

查看原文本刊更多论文

金点机制中的因果关系:对李嘉图对桑顿的批判的一种批判

注意到黄金积分机制的经典分析的鼻祖是桑顿，而不是李嘉图，本文表明李嘉图否定了这一机制。考虑到他对赤字、汇率和黄金价格之间因果关系的批评，就可以做到这一点。本文首先强调了桑顿对黄金点、银行风险和金价高企之间联系的分析。然后，我们看到李嘉图对桑顿的批评以及他对黄金和外汇市场高价格的解释是多么的误入歧途。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

求助全文

约1分钟内获得全文求助全文

来源期刊

European Journal of the History of Economic Thought Multiple-

CiteScore

1.50

自引率

28.60%

发文量

期刊介绍： The European Journal of the History of Economic Thought (EJHET), a peer-reviewed journal, has quickly established itself as a leading forum for lively discussion on a wide range of issues in the history of economic thought. With contributions from both established international scholars and younger academics, EJHET is entirely pluralist and non-partisan with regard to subjects and methodologies - it does not subscribe to any particular current of thought, nor relate to any one geographic zone. The Managing Editors and Editorial Board and Advisory Board members are drawn from throughout Europe and beyond, and are committed to encouraging scholars from around the world to contribute to international research and debate.