Founding Choices

Founding Choices

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Papers of the National Bureau of Economic Research conference held at Dartmouth College on May 8-9, 2009.Yet any savings or other hoarding of coin would have lowered velocity, and the colonists were faced with other cash ... A comparison of bills of credit per capita in Pennsylvania with Englanda#39;s per capita money stock further suggests that the colonies were undermon- etized. ... to complete weekly purchases without using checks and/or credit cards (i.e., instruments of a modern financial system), even if anbsp;...

Title:Founding Choices
Author:Douglas A. Irwin, Richard Sylla
Publisher:University of Chicago Press - 2011-01-15


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