Bullionism
Bullionism is an
History
Bullionism was born in Spain. Following the Reconquista, the country fell victim to a deep economic slump. This prompted Spanish scientists to look for ways to revive the country's economy. Some noted that England had accumulated vast reserves of gold and silver thanks to its trade surplus, and established a link between the possession of precious metals and the wealth of the country.[2]
Although the Spanish supporters of Bullionism did not write theoretical treatises on the subject (unlike the precursors of the classical school in the following century), they did mobilize many leaders.[2] In 1558 Ortiz wrote a memoir to the king to prevent the exits of gold. The doctrine was developing mainly in Spain, because the influx of precious metals from America led to a sharp increase in purchasing power in the short term, which the authors saw as an implicit confirmation of their theory. King Charles V of Spain and his son King Philip II did follow the bullionist recommendations.
Examples of bullionists
See also
- Commodity money
- Gold standard
- Bimetallism
- Metallism
- Monetary policy
- Monetary economics
- Silverite
- John Law (economist)
References
- ISBN 978-1-136-80578-3.
- ^ ISBN 978-2-36106-629-1.
- Irvin L. Jeffery (2008). “Paradigm and Praxis: Seventeenth-Century Mercantilism and the Age of Liberalism” Ph.D. diss., University of Toledo.