This work aims to shed lights on a writer and politician of 18th century judged as a fool, a gambler and a swindler by his contemporaries but who nowadays may be considered instead one of the first monetary economists in the history of economic thought: John Law. Using the current stream of literature on this topic, as well as several other chronicles, this work will present the historical facts that brought John Law to become the financial minister of France in 1720 and to put in place a system, the Missisipi System, where he had the rare chance to translate his theories into economic policies, threatening the very foundations of the ancien régime. After elucidating the reasons of the collapse of the System, we will focus on the economic explanations of this failure, showing under which conditions Law's scheme could have been sustainable. A deep analysis of his early writings and of his later memoires will be carried on in order to assess the discrepancies between Law-"the economist" and Law-"the policy-maker". A further study will be conducted to inspect the reasons of Law's uncelebrated role in the subsequent history of economic thought and to present the modernity of his ideas regarding the nature and the role of money, with a particular attention to financial securities and paper and fiat money. The final part will build a singular parallel between Law's revolutionary experiment and Bitcoin, the most recent and influential attempt to reshape the current payment system, explaining both the similarities and the underlying economic differences.
The invasion of Ukraine will change the economic and political scenarios. Together with the sanctions, it will accelerate the 'de-globalization' process already triggered by the 2008 financial crisis and the pandemic. In this paper, we analyze the effects that economic sanctions will have, in particular, on the international monetary system. In recent years, the dominance of the dollar as the default international currency has weakened albeit slowly. However, in the new scenario, alternative systems to SWIFT (particularly the Chinese one) will receive a strong boost as will the use of payments in currencies other than the dollar. As has already happened in other historical periods, the change in the dominant international currency is linked to epochal events and to a change in the technological paradigm: the war and the development of a digital currency in China and then in other countries could form the basis of this turning point. ; L'invasione dell'Ucraina cambierà profondamente gli scenari economici e politici. Assieme alle sanzioni, accelererà il processo di 'de-globalizzazione' innescato dalla crisi finanziaria del 2008 e dalla pandemia. In questo lavoro analizziamo gli effetti che le sanzioni avranno su questi processi, in particolare sul sistema monetario internazionale. Negli ultimi anni il dominio del dollaro come valuta dei pagamenti internazionali è declinato ma lentamente, e i tentativi soprattutto della Cina e della Russia di emarginarlo non hanno avuto grande successo. Tuttavia, nel nuovo scenario i sistemi alternativi a SWIFT, particolarmente quello cinese, riceveranno un forte impulso così come l'utilizzo di pagamenti in valute diverse dal dollaro. Come già successo in altre epoche storiche, il cambiamento della valuta di riferimento degli scambi internazionali è legato a eventi epocali e a un cambio di paradigma tecnologico: la guerra e la valuta digitale cinese e poi di altri paesi potrebbero costituire le basi di questa svolta.
"Digressione su la proporzione media fra i metalli monetati estratta dalla Dissertazione VI sulle monete": p. [229]-296. ; In Scrittori classici italiani di economia politica. Milano, 1804. 22 cm. [v. 20] Parte moderna, v. 13, p. [13]-296. ; Mode of access: Internet.
Also published under title: Del commercio. ; In Scrittori classici italiani di economia politica. Milano, 1803. 22 cm. [v.9] Parte moderna, v. 2, p. [1]-153. ; Mode of access: Internet.
All copies: University of Illinois bookplate: "From the library of Conte Antonio Cavagna Sangiuliani di Gualdana Lazelada di Bereguardo, purchased 1921". ; Cavagna 18864: Bound with: "Nuovo repertorio delle zecche d'Italia dal medio evo ai tempi nostri / per Damiano Muoni" (Milan: Brigola, 1865); former shelf-mark: Cavagna 18865. ; Cavagna 10404: Bound with thirteen other contemporaneous Italian-language works under spine title "Opuscoli di archeologia, numismatica, e paleografia", with ms. table of contents on second front fly-leaf recto; former shelf-mark Cavagna 10415. ; Cavagna 1676: Author's presentation inscription to Accademia Storico Archeologica on front cover; ownership stamp of Accademia Storico Archeologica Milano on front cover. ; The last page is blank. ; List of author's works on p. [15]. ; "Dagli Atti della Società lombarda di economia politica, anno II della sua fondazione, fasc. VI. ; Includes bibliographical references. ; Mode of access: Internet.
The Tractatus de origine et natura, iure et mutationibus monetarum of Nicholas Oresme, written in Latin in 1355-1356 and later translated in French by the author himself, might be seen as one of the most important works to read in perspective the late-medieval thought on the nature of money and the role of the sovereign and the political body of the community. This work, here offered in a newly revised Italian edition, built on some manuscripts preserved at the Bibliothèque Nationale de France , appears from the onset as having a particularly marked political vocation, as it is addressed to the king of France Charles the Fifth, of whom Oresme was an advisor. The Norman magister has often been portrayed as a fervent supporter of a metallist view of the nature of money, as if its value were nothing more than the market value of the gold or silver it was made of, a perspective that might be characterised as one of private-law. However, a thorough reading of Oresme's monetary writings, that takes good stock of their historical contextualisation in the troubled monetary anarchy of the 1350s and of the interpretative links pointing to Aristotle's Politics and Ethics – known, translated and glossed by Oresme –, reveals a more complex analysis, that cannot be confined to the all-out defence of the intrinsic metallic stability of money. Rather, the proposed interpretation will qualify Oresme as a political advisor that perceives and appreciates the nature of money as a social institution, whose value and role is determined by those, the whole body of the political community, that are sovereign over money and resort to it in negotiations. In this political dimension of the government of the monetary institution emerges the structural role that Oresme attributes to the faith that must rest with those tasked with governing money: thus, the accent posed on the importance of preserving its value assumes a procedural dimension that aims at granting that the institution of money continues to fulfil its social metric role. ; Il Tractatus sulla moneta del filosofo e teologo Nicola Oresme, redatto in latino nel 1355-1356 e poi tradotto in francese dallo stesso autore, costituisce uno dei testi cardine della riflessione medievale sullo statuto della moneta e su chi ne sia sovrano. Quest'opera - di cui si propone una nuova e riveduta edizione italiana, impostata a partire da alcuni manoscritti conservati presso la Bibliothèque Nationale de France - testimonia sin dal suo avvio la sua forte valenza politica, avendo come primo interlocutore Carlo V il Saggio, il re di Francia di cui Oresme fu consigliere. Il magister normanno è stato spesso salutato quale fautore di una visione metallista della moneta, una merce tra le altre che vale tanto quanto l'oro o l'argento di cui è fatta, inserita in un'ottica schiettamente privatistica. Tuttavia, una lettura più attenta degli scritti monetari oresmiani, che metta in prospettiva sia il periodo storico in cui il testo fu redatto, caratterizzato da una diffusa anarchia monetaria, sia le relazioni che il Trattato stesso suggerisce rispetto ai passaggi aristotelici conosciuti e poi commentati dallo stesso Oresme, rivela un pensiero più complesso e più profondo. La cifra sintetica della sua riflessione monetaria non è infatti riducibile a una difesa ad oltranza dell'intrinseco metallico, ma si qualifica per lo spessore politico e teorico espresso dal consigliere regale che vede e apprezza della moneta il suo significato istituzionale. Il suo valore è stabilito da chi di quella moneta può dirsi sovrano e, al tempo stesso, fruitore: la comunità politica tutta. La dimensione eminentemente politica dell'istituzione-moneta emerge proprio da una rilettura complessiva del trattato. In esso il ruolo della fiducia nell'amministratore della divisa assume un'importanza strutturale incidendo sul valore della moneta e sulla necessità che esso venga tutelato e garantito attraverso precise garanzie procedurali sicché la moneta possa mantenere il suo fondamentale ruolo sociale: quello di misura.
Is money going to be replaced by an information processor simila/ to the Walrasian auctioneer? At the heart of the question theae is the role of money in transactions. Niehans (1971) stated that money emerges as the good with the lowest transaction cost out of a barter economy and its appearance can also turn non—traded goods into traded—goods. Jones (1976) and Schoetter (1981) emphasize the institutional role of money whose diffusion parallels the provision of a public good.Freeman (1985) underlies the market completeness of money and its role in transa—ctions vis a vis other assets.Gale (1978;1983) says that markets cannot be Debreu—complete without outside money. The roles of money in Niehans,Jones,Schoetter can be superseded.The one in Freeman—Gale cannot,since money has a role even if information is perfect and free because it makes markets complete.A contract will never be equivalent to a money payment.
Nella storiografi a contemporanea, politica ed economica, continua a prevalere una lettura dell'opera di Weber secondo cui la nascita dell'economia di mercato costituisce un novum dirompente della e per la christianitas in quanto società costruita sulla caritas e sulla communitas. Si analizzano qui due testi patristici, esemplifi cativi della tradizione orientale ed occidentale, dove la chiave interpretativa dell'esistenza cristiana è tutta condotta in un orizzonte creditizio e contrattualistico, a partire dalla riflessione sul Cristo, modello caritativo e redentivo. Nella seconda parte del saggio questo portato patristico viene messo in luce attraverso gli affi oramenti e gli sviluppi rintracciabili nei testi del XIV secolo prodotti in area catalano-aragonese. Testi scritti in latino ed in volgare da esponenti che appartengono all'Ordo di Francesco d'Assisi od hanno nei Minori un punto di riferimento identitario. In queste opere sezioni significative dedicate alla Passio Christi, al suo valore pedagogico per l'agire cristiano, diventano esplicitamente codici etici e normativi per l'azione politica e di governo, per la corretta gestione dell'economia e dei mercati. Si tratta di analisi puntuali che interrogano gli oggetti indagati, moneta, contratto, pratiche mercantili, per comprenderne il signifi cato ed il valore politico e per formulare codici destinati ai cives, ai mercatores ma, in primis, ai governanti. Siamo dunque dinanzi a testi che - anche per il tramite della rifl essione cristologica - forniscono alle comunità politiche dell'Europa medievale, occidentale e cristiana, un vocabolario politico, ma anche precise strutture dottrinali e di legittimazione dell'agire economico le quali si connettono direttamente ad una testualità politica che affi orerà in un arco cronologico compreso quantomeno tra Biel ed Althusius. ; In the political and economical historiography, the interpretation of the Weberian analysis about the origin of market economy, is still read, in a large number of texts, as an upsetting novum for the Christianitas. Because the Christian society is considered as a social structure which is built on, and into, the charitas (charity) and communitas (community). Here we examine two Patristic texts, as illustrative examples of the Eastern and Western tradition, where the Christian life is interpreted and analyzed through a pattern of words and concepts derived from the world of credit and contract, words that are firstly employed to explain the life of Christ Redeemer, as a model of charity (charitas) and largesse (largitio). In the second part of the essay this Patristic heritage comes out through the appearances and developments that we can read in the 14th century texts produced in the territories of the Aragonese Crown. These texts are written in Latin and in vulgar languages by representatives of the Ordo of St. Francis or by people who have very close relationship with it. Important parts of these works -which are devoted to the Passio Christi, to his pedagogical value for Christian life- become unequivocally ethical and normative codices for the governmental and political activities, for the correct handling of economy and markets. All of these passages are precise analysis that investigate the role of money, contract and the merchant practices, to understand their meaning and political value, to formulate a codex of discipline for merchants, citizens, but in primis, for government leaders. So these texts provide the political communities of the Western Medieval Christian Europe -even through the Christological reflection- with a lexicon, but also with precise doctrinal structures and tools of legitimation for the economic actions. These kind of structures and tools are directly connected with a political textuality which will surface during the age dating from Gabriel Biel until Johannes Althusius.
The status of money, considered as institution of community, is focused by an expert of voluntary poverty: Francesc Eiximenis, a Franciscan friar. The analysis about the nature, character and function of money produces some relevant results, especially from a political viewpoint. Who exercises the sovereignty, the control of the value and circulation of money? Which kinds of relations are established between 'princeps'/ruler, community and money? 'Maiestas', supremacy are prince features, prince characters or are they prerogatives of money that is instituted, created for change and justice in the 'polis'? Which juridical apparatus, which political and institutional form can operate to preserve the peculiar value of money: her stability? These questions touch many aspects of that will become the economic reflexion during the Early modern period and also the dogmatic thought about money, starting from the texts written by Copernic, Bodin and Locke; but it's clear that money, not conceived as a mere coin, assumes a more important role: it becomes the object by which is possible to think about the same concept of power and sovereignty. Besides this setting of topics, where institutional and political experiences of Italian cities are observed with profound interest, it comes to light another notable matter summarized in one key-question written by the same Friar: 'How is possible to use money to achieve a large, diffused and communitarian wealth?' Eiximenis deals all these issues situating them inside the European debate on these topics. Anyway, the Franciscan doesn't use Latin for this work: he writes in Catalan vernacular. A language that is read and written by people living in the territories of the Crown extended from Valencia to Palermo, from Barcelona to Sardinia, with important settlements at eastern and southern Mediterranean coasts. The arguments discussed in these chapters are also remarkable because they were inserted in the 'Twelfth Book of Christian', a work of civic and political education addressed to the rulers of reigns and cities that were forming one of the most important political and economic entities flourishing in Europe between XIII and XV centuries. ; Lo statuto della moneta è messo a fuoco da un professionista della volontaria povertà e della gestione non proprietaria dei beni: il frate Minore Francesc Eiximenis. La riflessione sulla natura, il carattere, la funzione della moneta e del denaro produce esiti di grande rilievo, innanzitutto politico. Tali questioni toccano molteplici aspetti di quella che diverrà la riflessione economica della prima Età moderna ed anche la dogmatica monetaria messa in forma a partire da Bodin, Copernico e Locke, ma è chiaro che la moneta assume qui un ruolo ancora più importante: essa è l'oggetto attraverso il quale si riflette sul concetto stesso di potere e su quello di sovranità. A questo ambito di riflessioni si aggiunge una sfera di analisi non meno rilevante, sintetizzabile in una domanda chiave: come si usa la moneta per farne il volano di un arricchimento diffuso, comunitario? Sono i quesiti di fondo che Eiximenis affronta e sviluppa collocandosi all'interno di un dibattito di respiro europeo, servendosi non del latino ma del volgare catalano. Quesiti e analisi di estremo interesse anche perché inseriti nel Dodicesimo libro del Cristiano , un testo che ha come finalità dichiarata quella di essere opera di pedagogia civile e politica, destinata ai governanti dei regni e delle comunità cittadine di una delle più importanti realtà economiche e politiche dell'Europa e del Mediterraneo nei secoli che vanno dal XIII al XV.
The Centre for Handicapped Students was created ten years ago at University "L'Orientale" in Naples according to a previous national law, which obliges universities to offer to students a such service. During the years this Centre has started many projects to help these students, who are not so many, considering that all students of our university reach some 12.000 ones. I have to stress that many of these projects intended to look for money from the national government, regional and local institutions, considering that the Centre, like in most universities, is getting a very small amount of money due to general economical situation of the Country. There is also another aspect besides money shortage, which is a chronicle situation for universities, not only in Italy, the law concerning the creation of this new service in the universities was not considering the fact that small universities with a target on humanities (i.e. without medical or psychological faculties) did not have the personnel to help handicapped people and for this kind of service, even at the front desk, it is necessary to employ trained and specialised personnel. So the continue rush for looking money necessary to go on offering this service, which is a duty imposed to the university by law, but from the other side not sponsored at all adequately. I am going to illustrate a few of these projects, which gave to our students a better university service and a better social university life.
Abstract: Approfondire il rapporto tra la letteratura e l'economia politica significa riconoscere il ruolo cruciale svolto dal romanzo nella valorizzazione del denaro inteso come tema e come principio formale. In questa materia la precocità del genere teatro invita a una riflessione costante sulla peculiarità delle forme letterarie e sulla loro relazione. La lunga tradizione settecentesca offre un terreno fecondo per identificare il momento inaugurale che ha sancito l'incontro del romanzo con il denaro. Ma questa interazione va indagata secondo una prospettiva critica capace di includere anche testi che sembrano secondari, eccentrici o lontani: è lì che il denaro parla il suo linguaggio più efficace.English Abstract: To explore the relationship between literature and political economy means to acknowledge the crucial role played by the novel in the appraisal of money in terms of both narrative theme and formal principle. The precociousness of drama in this context encourages constant reflection on literary forms as well as on the peculiarities of their cross-fertilization. The long eighteenth-century tradition provide sample grounds for the identification of the sources of the encounter between money and the novel. Yet, the critical investigation of this intersection must also include texts which may appear minor, marginal, and distant: it is precisely in texts such as these that money speaks its most powerful language.
