'Money and Trade Considered' Summary

Money and Trade Considered, With a Proposal for Supplying the Nation with Money was so much more than a mere proposal for a note-issuing bank. It was a staggeringly original work of genius which not only included proposals for new systems of banking, and the issuing of paper money as a means to stimulate the economy, but also revealed, for the first time, several of the most significant economic concepts ever devised; concepts which would later be espoused by economists such as Adam Smith and John Maynard Keynes without acknowledgement. It was meant for the consideration of the Scottish Parliament, but the ideas it contained fundamentally altered economics, politics, finance, and, consequently, the modern world. John Law’s Money and Trade Considered is the most influential but least acknowledged work in the history of economics.