Shortages of gold and silver do not mean non-monitization. On Thu, Apr 26, 2007 at 06:55:05PM -0400, Louis Proyect wrote: > > I don't know about a "price revolution" but you can't have > generalized capitalist property relations without money. The enormous > inflow of silver and gold into Europe in the 16th and 17th century > was a foundation for future capitalist development. You can't develop > industry without banking and banking relied relied on silver and gold. > > I will get into this in more depth later on.
-- Michael Perelman Economics Department California State University Chico, CA 95929 Tel. 530-898-5321 E-Mail michael at ecst.csuchico.edu michaelperelman.wordpress.com
