Here, price means inflation or deflation. Species (true money) means gold. So this funny term really means a "mechanism linking inflation/deflation with gold flows." Through this mechanism, it was thought that the gold standard had a wonderful built-in adjustment mechanism. Even if governments d...

• Word Count: 1583
• Approx Pages: 6
• Grade Level: Undergraduate

Several eminent figures in history from philosopher Immanuel Kant to economist Adam Smith to biologist/naturalists Charles Darwin and Thomas Huxley credit David Hume as being the central influence in their writings. ...

• Word Count: 1547
• Approx Pages: 6
• Has Bibliography
• Grade Level: Undergraduate