CANTILLON, RICHARD (1680 - 1734)

An Irish international banker who wrote Essai sur la nature du commerce en general, which was not published until 1755 but had circulated from about 1730. This work was one of the first synoptic descriptions and analyses of the economic process. His views on the importance of agriculture, based on its recipient of pure RENT, and his analysis of the circulation of wealth, foreshadowed the PHYSIOCRATS and the Tableau economique, respectively.

INTERNATIONAL LIQUIDITY

The amount of gold, RESERVE CURRENCIES and SPECIAL DRAWING RIGHTS available for the finance of international trade. Broadly, if sufficient reserves were not available, a fall in prices and world trade would follow (QUANTITY THEORY of money). Gold has lost some of its appeal as a reserve asset in a world of comparatively low inflation. Preference is given to the holding of interest-bearing assets denominated in stable reserve currencies such as the US dollar, the euro, Japanese yen and sterling.

SPECULATIVE BUBBLE

A deviation between the price of an asset in the market, and the price justified by the inherent value of the asset, sustained by a belief on behalf of buyers that they will be able to sell at an inflated price. The interesting thing about a bubble is that, as long as everyone believes in it, the bubble need not burst. The price can indefinitely deviate from fundamental value. While some have suggested bubbles are a sign of irrationality in the financial markets, creating more variability in the price of assets than is merited by fundamental swings in values, attempts have been made to account for them as rational phenomena.

"About this title" may belong to another edition of this title.

Store Description

Better World Books is a for-profit, socially conscious business and a global online bookseller that collects and sells new and used books online, matching each purchase with a book donation. Each sale generates funds for literacy and education initiatives in the U.S., the UK, and around the world. Since its launch in 2003, Better World Books has raised over $35 million for libraries and literacy, donated over 38 million books, and reused or recycled more than 475 million books.

Visit Seller's Storefront

Seller's business information

Better World Books Marketplace, Inc.
55742 Currant Road, Mishawaka, IN, 46545, U.S.A.

Sale & Shipping Terms

Terms of Sale

Better World Books (BWB) values your satisfaction and offers you returns within thirty (30) days after the estimated delivery date on most items. All returned items must be in the original condition; used items should include the SKU sticker located on the spine or back of the product.

If you have an incomplete, incorrect, or damaged shipment, please contact our Customer Care team via Abebooks contact seller options before proceeding with the return.Please keep in mind that because we deal mostl...

More Information

Right of cancellation

Shipping Terms

Please allow 1-2 business days for order fulfillment.

Shipping rates within U.S.A.

Shipping rates within U.S.A.
Order quantity	4 to 8 business days	3 to 5 business days
First item	� 0.00	� 7.50

Delivery times are set by sellers and vary by carrier and location. Orders passing through Customs may face delays and buyers are responsible for any associated duties or fees. Sellers may contact you regarding additional charges to cover any increased costs to ship your items.