Make: Technology on Your Time Volume 15

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RETROSPECT

By George Dyson

Economic Disequilibrium

Can you have your house and spend it too?

“What remedy is there if we have too little Money?” asked Sir William Petty (author of Political Arithmetick and co-founder of the Royal Society) in his brief Quantulumcunque Concerning Money in 1682. His answer, amplified by the founding of the Bank of England in 1694, resonates to this day: “We must erect a Bank, which well computed, doth almost double the Effect of our coined Money: And we have in England Materials for a Bank which shall furnish Stock ...

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