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Beyond the pro-statist Chartalists and the pro-capitalist Catallactics, Zelmanovitz provides informative sketches of a handful of other influential modes of thought: the sociological theory of money, the property theory of money, the credit theory of money, metallism, and monetarism.
(2011): "Fides et Pecunia Numerata Chartalism and Metallism in the Roman World Part 1: The Republic", American Journal of Numismatic, 23, pp.
He describes his methodology, then offers a chronologically arranged retrospective survey beginning with Aristotle and ending with Jean Baptiste Say (1767-1832), Knut Wicksell, and metallism and chartalism.
"And all the fundamental flaws of metallism and of the quantity theory, which I ...
Metallism, Small Notes, and Jackson's War With the B.U.S.
The first to challenge the view that Democrats were "anti-bank" was David Martin, who in a series of articles--"Bimetallism in the United States before 1850" (1968), "1853: The End of Bimetallism in the United States" (1973), and "Metallism, Small Notes, and Jackson's War with the B.U.S." (1974)--convincingly revealed a cogent and coherent policy on the part of the Democrats at the federal level to create their own national bank, using abolition as the first step toward gaining control of private note issue.
"Metallism, Small Notes, and Jackson's War with the B.U.S.," Explorations in Economic History 11 (Spring 1974): 227-47.
Thus, Ferrara endorsed theoretical metallism: (5) there can be no fiat or paper money because no agent would ever accept in exchange of his goods something devoid of intrinsic value, that is, of the only guarantee (namely, the pledge) that in case she cannot employ her money to purchase other goods she will nonetheless be able to draw some utility from it.
What is really surprising is that, despite his rigid theoretical metallism, Ferrara developed a rather innovative theory of credit.
There is little doubt that Pantaleoni's views are quite distant from theoretical metallism, although, as I show below, his position can hardly be encapsulated in a rigid metallist vs.
Thus, theoretical metallism is a mere aside in the Principii and it is apparent that Pantaleoni does not endorse it.
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