Edward Misselden

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Edward Misselden (* 1608 ; † 1654 ) was an English businessman and author of economic writings that are considered characteristic of the age of mercantilism .

Life

Misselden was a member of the East India Company and wrote the two publications Free Trade and The Circke of Commerce in 1622 and 1623 . In 1623 he left England because the East Indis Company nominated him as a negotiator in Amsterdam for contract negotiations. During these negotiations he also met Thomas Mun (1571–1641). Misselden became Deputy Governor of the Merchant Adventurers Society in Delft in 1623 and remained so until 1633.

Misselden's theory of money and trade in goods

“The natural matter of trade is merchandize : which merchants from the end of trade have stiled commodities (which traders have called use values ​​for business reasons). The artificial matter of trade is money, which has received the title of sinewes of warre and of state (nerve of war and the state). Money, although it comes after the merchandize in nature and time , yet for as much as it is now in use has become the chiefe . ”He compares goods and money with Jacob's two sons , who put his right hand on the younger and the left put on the older one.

Opposing roles in treasure formation: "The more the stock in goods grows, the more the existing treasure ( in treasure ) decreases."

“The general distant cause of our lack of gold is the great excess of this kingdom in the consumption of goods from foreign countries, which, instead of being commodities, prove themselves to us as discommidities by cutting us off from as much treasure that would otherwise take the place of these toys ) would be imported. We consume far too great an abundance of wines from Spain, France, the Rhineland, and the Levant ; the raisins of Spain, the currants of the Levant, the lawns (variety of fine linen) and cambrics ( batiste ) of Hainaut , the silk products of Italy, sugar and tobacco from the West Indies, the spices of the East Indies, none of this is an absolute need for us, and yet these things are bought with hard gold. "

Misselden wants to keep the gold and silver at least in the circle of Christianity: “Money is reduced by trade beyond Christianity with Turkey, Persia and East India. These branches of trade are for the most part conducted with hard cash, but quite different from the trades of Christianity in themselves. For although the trade within Christianity is carried out in hard cash, the money is always locked within its limits. There is, in fact, a current and a countercurrent, a flood and an ebb of money in the trade conducted within Christianity, for sometimes it is more abundant in one part, less in another, depending on whether one country is wanting and another is abundant: it comes and it walks and swirls in the circle of Christianity, but always remains surrounded by its line. But the money with which outside of Christianity is traded to the above-mentioned countries is constantly spent and never returns. "

Fonts

  • Free Trade or, The Meanes To Make Trade Florish. Wherein, The Causes of the Decay of Trade in this Kingdome, are discovered: And the Remedies also to remoove the same, are represented. Properties, nauita de ventis, de tauris narrat arator: Enumerat miles vulnera, pastor oues. London, Printed by John Legatt, for Simon Waterson, dwelling in Paules Church-yard at the Signe of the Crowne. 1622
  • The circle of commerce. Or The ballance of trade in defense of free trade: opposed to Malynes little fish and his great whale, and poized against them in the scale. Wherein also, exchanges in general are considered: and therein the whole trade of this kingdome with forraine countries, is digested into a ballance of trade, for the benefite of the publique. Necessary for the present and future times. , London: Printed by Iohn Dawson, for Nicholas Bourne, 1623

literature

  • Max Beer: Early British economics: from the 13th to the middle of the 18th century , Routledge, 2003, ISBN 0-415-31322-8

Web links

Individual evidence

  1. ^ Chi-Yuen Wu: An Outline of International Price Theories . Read Books, 2007, ISBN 978-1-4067-4314-2 , pp. 31 (English, 396 p., Limited preview in Google book search).
  2. ^ E. Misselden: Free Trade or the Means to make Trade florish, etc. London 1622; quoted after Karl Marx: On the Critique of Political Economy. Franz Duncker, 1859; MEW Vol. 13, p. 103.
  3. ↑ MEW, Vol. 13, p. 106.
  4. ↑ MEW Vol. 13, p. 107.
  5. ↑ MEW Vol. 13, p. 108f, note.
  6. ↑ Text on Free Trade
personal data
SURNAME Misselden, Edward
BRIEF DESCRIPTION English businessman and author of economic writings
DATE OF BIRTH 1608
DATE OF DEATH 1654