Call for Papers
 

International Conference on:
Paper Money in Theory and Practice in History
 

 

To be held at

Barnard College, Columbia University, New York, April 17 - 19, 2009

 

 

Introduction
Monetary systems based on paper money are standard in most parts of the world today. Yet despite its prevalence, economic theory has not succeeded in providing an explanation for the emergence and continued acceptance of paper money.

 

While the existence of paper money, credit money, and fiat money systems have not been at the center of modern economic research, there is a long history of prominent thinkers who carefully theorized the emergence and dynamics of such monetary systems. In Europe, thinkers like John Law, Richard Cantillon, David Hume, and Henry Thornton developed elaborate theoretical frameworks, while in the American colonies, Benjamin Franklin famously explored the use of paper money. In addition to the western tradition of using and thinking about paper money, the Chinese economy was based on paper money for many centuries. 

 

The fact that paper money existed in so many different economies and political systems, suggests that a comparative approach to the theory and practice of paper money might be advantageous. 

 

By exploring the common features of various paper money systems, the aim of this conference is to provide a deeper understanding of the nature, function, and dynamics of fiduciary coins, paper money, credit money, and fiat money. 

 

Questions
Questions can be divided into three interlinked categories: 1) Theoretical - such as how is paper money defined, how does paper money differ from what is regarded as "real" or "proper" money (defined as carrying an "intrinsic value"), how is paper money endowed with value, what makes paper money accepted in transactions, and more broadly how do money in general and paper money in particular affect the economy (inflation, balance of trade etc) according to these theories.

 

2) Practical: What was used as paper money; why was paper money used; who issued paper money, on what basis were money emitted, and again what made paper money accepted in transactions, and how did money in general and paper money in particular affect the economy (inflation, balance of trade etc)? 

 

3) How did practice and theory relate to each other?

Application Deadlines
To apply please send your abstract (not exceeding 500 words) to any of the members of the organizing committee by e-mail no later than December 15, 2008.

 

Notification of acceptance will be sent out before January 15, 2009. We expect a full conference paper to be submitted no later than March 30, 2009.

Organizing Committee
Anders ?gren 
EHFF Stockholm School of Economics and EconomiX Universit? de Paris X Nanterre 
E-mail: anders.ogren at hhs.se


David F. Weiman

Department of Economics, Barnard College, Columbia University

E-mail: dweiman at barnard.edu

 

Carl Wennerlind

Department of History, Barnard College, Columbia University

E-mail: cwennerl at barnard.edu