<aside> 📌 A PRICE FOR EVERYTHING
The idea that price is a function of the supply of money was first proposed in the middle of the 16th century by a group of theologians known as the School of Salamanca. The chief exponents of the idea, Domingo de Soto and Martin de Azpilcueta Navarro, were particularly interested in what we might now call problems of the morality of capitalism
While studying business methods, they noticed a connection between the flow of gold and silver from the New World and the inflation of prices in Spain. “in Spain,” observed Navarro, “in times when money was scarcer, saleable goods and labor were given for very much less than after the discovery of the Indies, which flooded the country with gold and silver.
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<aside> 📋 Navigate Here 👇🏼
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<aside> 💭 Wealth rides upon the wind. It takes the form of papers and contracts…silver and gold, instead of products that… add value and attract riches from abroad, sustaining our people at home. -MARTIN GONZALEZ DE CELLORIGO
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