Ranked #1
3.1. Foreign Trade
3.1. Foreign Trade
Here the circular-flow economy is extended to international trade. Instead of barter or exchange with money, Cantillon e... Read more
31 Dec 2014
•
18mins
Ranked #2
3.2. On Bills of Exchanges
3.2. On Bills of Exchanges
There is an expense associated with transporting money based on the distance, risks, and other transaction costs. Bills ... Read more
31 Dec 2014
•
14mins
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1.11. The Par or Relation between the Value of Land and Labor
1.11. The Par or Relation between the Value of Land and Labor
William Petty set off the search for a par value between land and labor. Cantillon provides a theoretical answer (refere... Read more
31 Dec 2014
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11mins
Ranked #4
2.6. The increase and decrease in the quantity of hard money in a State
2.6. The increase and decrease in the quantity of hard money in a State
Cantillon uses his price-specie flow mechanism to analyze some of the effects of inflation. Increasing the supply of mon... Read more
31 Dec 2014
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14mins
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2.3. The Circulation of Money
2.3. The Circulation of Money
Farm production produces three rents, one of which sustains the farm workers, while the other two can be sold at wholesa... Read more
31 Dec 2014
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15mins
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2.4. Further Reflection on the Rapidity or Slowness of the Circulation of Money in Exchange
2.4. Further Reflection on the Rapidity or Slowness of the Circulation of Money in Exchange
Large transactions can be accomplished with the use of bills of exchange or barter, which reduces the demand for money. ... Read more
31 Dec 2014
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9mins
Ranked #7
1.13. The Circulation and Exchange of Goods and Merchandise are Carried On in Europe by Entrepreneurs at a Risk
1.13. The Circulation and Exchange of Goods and Merchandise are Carried On in Europe by Entrepreneurs at a Risk
Here Cantillon introduces, for the first time, the theory of entrepreneurship. Entrepreneurs are the prime directors of ... Read more
31 Dec 2014
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9mins
Ranked #8
1.2. Human Societies
1.2. Human Societies
All human societies are based on a system of property rights. The distribution of rights will necessarily be unequal, an... Read more
31 Dec 2014
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4mins
Ranked #9
1.7. The Labor of the Plowman is of less Value than that of the Artisan
1.7. The Labor of the Plowman is of less Value than that of the Artisan
The opportunity cost of becoming a skilled worker includes both the direct expenses as well as the foregone labor during... Read more
31 Dec 2014
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1min
Ranked #10
2.1. Barter
2.1. Barter
Because the opportunity cost of a good cannot be fixed, it is impossible to know the proper exchange ratios for barter. ... Read more
31 Dec 2014
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3mins
Ranked #11
1.6. Capital Cities
1.6. Capital Cities
Wherever a government establishes its capital, the city will grow in size because the additional spending attracts labor... Read more
31 Dec 2014
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1min
Ranked #12
1.9. The Number of Laborers, Artisans and others, who work in a State is naturally propotioned to the Demand for them
1.9. The Number of Laborers, Artisans and others, who work in a State is naturally propotioned to the Demand for them
The supply of workers adjusts itself to the demand for labor, across all professions, via wage rates, migration, and cha... Read more
31 Dec 2014
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3mins
Ranked #13
Introduction
Introduction
Introduction to Richard Cantillon's 'An Essay on Economic Theory'. Cantillon deals with a wide variety of fundamental an... Read more
31 Dec 2014
•
9mins
Ranked #14
2.9. Interest on Money and its Causes
2.9. Interest on Money and its Causes
Interest is established in the market by lenders and borrowers and the interest rate on a particular loan is determined ... Read more
31 Dec 2014
•
13mins
Ranked #15
3.8. The Refinements of Credit of General Banks
3.8. The Refinements of Credit of General Banks
When the government’s national bank inflates the money supply by increasing the supply of banknotes, it reduces the rate... Read more
31 Dec 2014
•
4mins
