An Inquiry into the Principles of Political Oeconomy (Vol. 2 of 2) by Steuart

Description

An Inquiry into the Principles of Political Oeconomy (Vol. 2 of 2) by Sir James Steuart is an analytical treatise focused on economic theory, likely written in the mid-18th century. This volume primarily addresses the intricacies of topics such as money, coinage, trade, and taxation within the framework of domestic policy in free nations. The book aims to delve into the relationships between these elements and their impact on political economy, offering insights into the complexities of commerce and economic regulation. The opening of the work sets the stage for a detailed examination of the principles governing money and coinage, illustrating how these concepts are essential to understanding trade and market dynamics. Steuart emphasizes the significance of coinage costs and seigniorage, arguing that these factors can dictate the prices of goods and commodities. He reflects on hypothetical scenarios that reveal how coinage affects the broader economy, such as changes in commodity prices when introducing coinage and its consequences on trade balances with other nations. The text serves as a foundational inquiry into economic principles, blending theory with practical examples to encourage a deeper understanding of political economy. (This is an automatically generated summary.)