Copernicus and the Quantity Theory of Money

Tags: Monetary Theory, Value and Exchange, Money and Banks

03/12/2010 Murray N. Rothbard

Copernicus became the first person to set forth clearly the “quantity theory of money,” the theory that prices vary directly with the supply of money in the society. He did so 30 years before Azpilcueta Navarrus, writes Murray N. Rothbard (1926–1995).

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