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Bullion flows - Bullion famines?
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<p>[QUOTE="EWC3, post: 3232679, member: 93416"]I think that gets right to the heart of the matter. In the case of Sher Shah (and Akbar) we can find the answer I think. Prior to Sher Shah, peasant farmers often paid their rents to the landlord with part of the crop itself. They got low value and Sher Shah thought it discouraged them. He wanted them to sell their surplus at markets at a good price in cash, pay their rents in cash, and keep more for themselves. An incentive to be more productive, and thus help the state itself to prosper. It does not seem to me to be an unusual idea, quite a lot like Adam Smith’s “invisible hand” (or for that matter maybe the “American dream”)? As far as I can tell, all the great proponents of coin issue thought like that.[/QUOTE]</p><p><br /></p>
[QUOTE="EWC3, post: 3232679, member: 93416"]I think that gets right to the heart of the matter. In the case of Sher Shah (and Akbar) we can find the answer I think. Prior to Sher Shah, peasant farmers often paid their rents to the landlord with part of the crop itself. They got low value and Sher Shah thought it discouraged them. He wanted them to sell their surplus at markets at a good price in cash, pay their rents in cash, and keep more for themselves. An incentive to be more productive, and thus help the state itself to prosper. It does not seem to me to be an unusual idea, quite a lot like Adam Smith’s “invisible hand” (or for that matter maybe the “American dream”)? As far as I can tell, all the great proponents of coin issue thought like that.[/QUOTE]
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