Lessons from the money mania for money creation

Arbeitspapier

The first attempt in the human history to consciously create money ended in a collapse in 1720, well-known as the money mania. This unfortunate start raises doubt on money creation as a whole such that today there are still voices questioning created money even though it is now indispensible for the world economy. But this misfortune also has the bright side in that it delivers an extensive example of risks which created money has to consider. In this paper, I review the central facts from the money mania and highlight lessons we can still learn from it.

Object Details

• Language: Englisch

References and Relationships

• Bibliographic citation: Series: Volkswirtschaftliche Diskussionsbeiträge ; No. 2018,3

Classification and Topics

• Classification: Wirtschaft ; History of Economic Thought through 1925: International Trade and Finance ; History of Economic Thought through 1925: Other ; Money and Interest Rates: General ; Monetary Policy, Central Banking, and the Supply of Money and Credit: Other ; Economic History: Financial Markets and Institutions: Europe: Pre-1913
• Subject: money mania ; money creation ; convertible money ; non-convertible money ; John Law ; risk

Contributors, Places and Time

• Event: Geistige Schöpfung
• (who): Guo, Yanling
• Event: Veröffentlichung
• (who): Universität der Bundeswehr München, Fachgruppe für Volkswirtschaftslehre
• (where): Neubiberg
• (when): 2018

Further information

• Handle: http://hdl.handle.net/10419/185358
• Last update: 10.03.2025, 11:44 AM CET