Value and Exchange

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An Essay on Economic Theory by Richard Cantillon

1.14. The Desires, Fashions, and Ways of Life of the Prince, and especially of the Property Owners, Determine the Use to which Land is put in a State, and Cause the Variations in the Market Prices of all Things

Tags: Monetary Theory, Value and Exchange

12/01/2014 Richard Cantillon

Cantillon constructs a model of the isolated estate or closed economy where the choices of property owners determine outputs and prices, regardless if they manage the isolated estate or lease it to farmers.

2.7. Continuation of the same subject

Tags: Monetary Theory, Value and Exchange

12/01/2014 Richard Cantillon

Changes in the quantity of money will change relative prices and have real effects on the economy, a phenomenon now known as the "Cantillon Effects".

3.8. The Refinements of Credit of General Banks

Tags: Monetary Theory, Value and Exchange

12/01/2014 Richard Cantillon

Inflation is a corrupt process and can result in bank runs and economic chaos.

1.8. Some Artisans Earn More, Others Less, According to the Different Cases and Circumstances

Tags: Monetary Theory, Value and Exchange

12/01/2014 Richard Cantillon

Workers with higher quality skills, risky jobs, or jobs which require trustworthy employees will receive higher wages.

2.1. Barter

Tags: Monetary Theory, Value and Exchange

12/01/2014 Richard Cantillon

Prices of goods do not strictly follow the quantity theory of money.

3.1. Foreign Trade

Tags: Monetary Theory, Value and Exchange

12/01/2014 Richard Cantillon

The circular-flow economy is extended to international trade.

1.11. The Par Value or Ratio between the Value of Land and Labor

Tags: Monetary Theory, Value and Exchange

12/01/2014 Richard Cantillon

Only money— a “most certain measure”—can be used for income measurements and comparisons.

2.4. Further Reflection on the Rapidity or Slowness of the Circulation of Money in Exchange

Tags: Monetary Theory, Value and Exchange

12/01/2014 Richard Cantillon

A variety of factors affect the flow of money in circulation and this in turn affects the amount of money in circulation.

3.6. Banks and their Credit

Tags: Monetary Theory, Value and Exchange

12/01/2014 Richard Cantillon

Fractional-reserve banking is a system where the banks lend some of their deposits and earn interest, but it comes with risks.

1.6. Capital Cities

Tags: Monetary Theory, Value and Exchange

12/01/2014 Richard Cantillon

Wherever a government establishes its capital, the city will grow in size.

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