Modern Monetary Theory?

Marinus van Reymerswaele(1539), The Money Changer and his Wife, Museo del Prado, Madrid, Spain.

Marinus van Reymerswaele(1539), The Money Changer and his Wife, Museo del Prado, Madrid, Spain.

From Plato’s Laws:

The law enjoins that no private man shall be allowed to possess gold or silver, but only coin for daily use…our citizens should have coin passing current among themselves, but not accepted by the rest of mankind.

He was thinking about something like leather to do the trick. Paper was yet to be invented of course. Furthermore…

If a private person is ever obliged to go abroad, let him have the consent of the magistrates and go; and if when he returns he has any foreign money remaining, let him give the surplus back to the treasury, and receive a corresponding sum in the local currency. And if he is discovered to appropriate it, let it be confiscated, and let him who knows and does not inform be subject to the curse and dishonour equally with him who brought the money

Plato is famous, amongst other things, for writing in his youth The Republic, the oldest book know to describe a communist state. The older, more mature, Plato wrote The Laws, considered by some the oldest book to describe a fascist state. How much was learned in twenty-five centuries?

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s