In preparing this volume, I have attempted to write a descriptive essay on the past and present monetary systems of the world, the materials employed to make money, the regulations under which the coins are struck and issued, the natural laws which govern their circulation, the several modes in which they may be replaced by the use of paper documents, and finally, the method in which the use of money is immensely economized by the cheque and clearing system now being extended and perfected. -from the Preface As the global economy reels from ongoing threats of terrorism, skyrocketing oil prices, war, and political strife, this classic exploration of the basics of our sophisticated economic environment offers a profound look at what we often take for granted. Jevons, a pioneer of modern economic thought, examines: · the early history of money · the invention of coins · the principles of circulation · the varieties of promissory notes · the fundamental nature of credit · the basis of a national economy · and much more. First published in 1875, this remains a vital foundation for understanding the world monetary situation we face in the 21st century. English economist and logician W. STANLEY JEVONS (1835-1882) was born in Liverpool. He studied chemistry and botany at University College, London, and was later professor of logic and political economy at Owens College, Manchester. He is also the author of The Theory of Political Economy (1871) and The State in Relation to Labour (1882).
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W. Stanley Jevons (1835-1882) was an influential English economist and logician, renowned for his contributions to economics, particularly the theory of marginal utility. His work laid the groundwork for modern economic thought and significantly impacted the neoclassical school of economics. Jevons is best known for his book ""The Theory of Political Economy,"" published in 1871, where he introduced the concept of marginal utility, arguing that value is determined by the satisfaction derived from a good rather than its labor input. This shift was crucial in evolving economic theory from classical to modern perspectives. In addition to his economic work, Jevons was a noted logician, contributing to the field of logic through his work ""Principles of Science,"" where he explored the application of logic to scientific inquiry. His interdisciplinary approach, combining economics and logic, made a lasting impact on both fields, and his ideas continue to resonate in contemporary economic discussions.
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