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Erschienen in:
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2024 | OriginalPaper | Buchkapitel

6. The Classics’ View of International Transactions

verfasst von : Andrea Carrera, Alvaro Cencini

Erschienen in: National and International Monetary Payments

Verlag: Springer International Publishing

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Abstract

Classical economists are renowned for their contributions to the various fields of international economics, from foreign trade to international monetary payments. In this regard, Smith and Ricardo were among the greatest authors, not just for their theories of absolute and comparative advantages, but for the effort they made to explain the existence of absolute value when it comes to imports and exports. This chapter unfolds this issue and examines the classical conception of national currencies as a first step towards the contemporary refusal of the physical conception of the monetary means used in international transactions. It is indeed in Ricardo’s monetary writings that a full-fledged investigation of gold flows is to be found. It is from them that new insights into international monetary payments can be sought for.

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Vorheriges Kapitel The Theory of Monetary and Real Emissions
Nächstes Kapitel Neoclassical and Keynesian Approaches to International Transactions
Literatur
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Ricardo, D. (1810–1811a). The high price of bullion: A proof of the depreciation of bank notes. In P. Sraffa (Ed.) with the collaboration of M. H. Dobb (1951), The works and correspondence of David Ricardo (Vol. III, pp. 47–127). Cambridge University Press.
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Triffin, R. (1964). The myth and realities of the so-called gold standard. From The evolution of the international monetary system. Historical reappraisal and future perspectives (pp. 2–20). Princeton University Press. Reproduced in B. Eichengreen & M. Flandreau (Eds.) (1997), The gold standard in theory and history (pp. 140–160). Routledge.
Metadaten
Titel
The Classics’ View of International Transactions
verfasst von
Andrea Carrera
Alvaro Cencini
Copyright-Jahr
2024
Buch
National and International Monetary Payments

Print ISBN: 978-3-031-51736-5

Electronic ISBN: 978-3-031-51737-2

Copyright-Jahr: 2024

DOI
https://doi.org/10.1007/978-3-031-51737-2_6