Mill, Tooke, McCulloch and the 1825 crisis. ; Mill, Tooke, McCulloch et la crise de 1825
this article looks at the 1825 crisis affecting the English economy and the work of John Stuart Mill, Thomas Tooke and John Ramsay McCulloch devoted to his analysis. As McCulloch explained, Mill and Tooke deviated from the ricardian tradition, and probably more than it. McCulloch and Tooke argue that the organisation of the English banking system has played a remarkable role, if not at least in the development of the crisis. Mill, on the contrary, believes that the crisis is the effect of dangerous speculation and that it would have developed equally well in a system where currency would have consisted of cash. He puts forward ideas that will be taken up and developed by the Banking School. ; International audience This article studies the crisis which, in 1825, affected the English economy and the works that John Stuart Mill, Thomas Tooke and John Ramsay McCulloch dedicated to his analysis. While McCulloch refers, for explaining it, to the ricardian tradition, Mill and Tooke deviates from it and doubtless the former more than the latter. McCulloch and Tooke maintain that the organization of the English banking system played, if not in the origin at least in the development of the crisis, a remarkable role. Mill, on the contrary, thinks that the crisis is the effect of over-trading and that it would have developed as well in a system where the currency would have consisted in species. He advances ideas which will be taken back and developed by the Banking School. ; this article looks at the 1825 crisis affecting the English economy and the work of John Stuart Mill, Thomas Tooke and John Ramsay McCulloch devoted to his analysis. As McCulloch explained, Mill and Tooke deviated from the ricardian tradition, and probably more than it. McCulloch and Tooke argue that the organisation of the English banking system has played a remarkable role, if not at least in the development of the crisis. Mill, on the contrary, believes that the crisis is the effect of dangerous speculation and that it would have developed equally ...