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Les écrits sur la monnaie , sur la banque et sur la finance de Jean-Baptiste SAY

Abstract : First, studying JB Say's writings on money, banking and finance involved comprehensive knowledge of the cultural, monetary and financial background of the period from 1767 to 1832. then, it was necessary to establish the over all conception of the relation between the Individual and Society, in Say's works, which is based on the notion of enlightened Interest. Eventually, the reading of Say's works was based on a thorough biographical analysis, taking into account the whole bulk of the writings as well as rejecting any retrospective scrutiny. Say conceived of money as something running counter to any notion of substance. His all embracing vision of the monetary phenomenon brought together coined money along with paper money (such as notes and bills of exchange) as "agent of the circulation". According to him, money was only meant to facilitate the exchange of values. The notions of "unit of account" and "value conservation" were only valid in the field of pragmatic, political economy. In this respect he aimed at restricting Sate control as much as possible. In his theory of banking, Say moved from the concept of pure Free Banking to limited Free Banking. The national Debt was considered as entirely unproductive and a threat to Democracy because of the powers it gave to governements. From a thecnical point of view, he aimed the providing French economy with a flexible, safe and stable currency. Say had never been an advocate of the commonplace version of the quantitative theory, but at the most, an advocate of the substantial version of that theory. The law of markets offered many different version combining a set distribution network with interdependent markets. Say had never been a staumch advocate of the law of markets and did not regard it as his main contribut to Economics.
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Contributor : André Tiran <>
Submitted on : Sunday, December 3, 2006 - 4:36:00 PM
Last modification on : Monday, October 19, 2020 - 11:12:56 AM
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  • HAL Id : tel-00117636, version 1

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André Tiran. Les écrits sur la monnaie , sur la banque et sur la finance de Jean-Baptiste SAY. Histoire. Université Lumière - Lyon II, 1994. Français. ⟨tel-00117636⟩

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