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In his analysis of the quantity theory of money, Dutot, like Cantillon, emphasized the importance of the factor of the velocity of circulation. Dutot stressed the importance of paper money and considered credit a genuine source of the increase of wealth as a direct agent of production. Also noteworthy are his ideas on colonial trade and his fiscal theories which advocated the apportionment of taxes on the basis of the individual's ability to pay. "Dutot is considered one the best and clearest theorists of his time in the field of money and credit." Encyclopedia of the Social Sciences
Language Notes:
Text: English (translation)
Original Language: French
Title: Political Reflections on the Finances and ...
Publisher: A. M. Kelley
Publication Date: 1974
Binding: Hardcover
Condition: Good