The sovereign's power to manipulate money: Juan de Mariana and John Locke
Abstract
This research analyzes the theoretical answer received by one of the factors that cause the so-called Price Revolution in Europe during the 16th and 17th centuries, specifically the aspect related to the alterations in the monetary values of pieces of vellón and silver in Castile and England. In both countries, these episodes were rigorously analyzed from a theoretical point of view, as can be seen from the study of the monetary ideas of the period that were developed in these territories.
In this study, in light of the historical events that took place, we analyze the foundations of the monetary thought of Juan de Mariana and John Locke who oppose the the alteration of money by the sovereign for fiscal reasons, as well as their different reception.
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