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November 11 , 2007

The Price of Gold (Illustrated)


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On The Principles of Political Economy and Taxation

Skyros Publishing is dedicated to reproducing the finest books ever written and letting readers of all ages experience a classic for the first time or revisit a past favorite.David Ricardo was a prominent English economist who popularized the concept of comparative advantage in international trading. The book On the Principles of Economy…

David Ricardo made essential contributions to classical economics and has been called the most influential classical economist along with Adam Smith, Thomas Malthus, and John Stuart Mill.

In addition to the theory of comparative advantage, Ricardo’s most important legacy is on the subjects of momentary theory such as metallic currency and inflation. Using the essay The High Price of Bullion, he laid out the theoretical foundation of the repeal of the Bank Restriction Act of England.

Ricardo’s first pamphlet, The High Price of Bullion a Proof of the Depreciation of Bank Notes, was published in 1810. During The French Wars from 1792 to 1815, Bank of England printed too much paper money and caused inflation in England. In the essay, he argued in favour of a metallic currency. Ricardo further told Bank of England in the essay that inflation also affected foreign exchange rates and the flow of gold.

The letters in this book The Price of Gold are the important thoughts and discussions by David Ricardo on gold price and are the additional explanation of his views in the essay The High Price of Bullion a Proof of the Depreciation of Bank Notes.  

This is a must-read book for people who are also interested in the deepest thoughts and views about the core monetary subjects such as inflation, metallic currency, paper currency, and gold by David Ricardo, one of the greatest thinkers on the planet.


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