Macro Musings with David Beckworth cover image

Bryan Cutsinger and Louis Rouanet on the Politics and Dynamics of Hyperinflation in Revolutionary France

Macro Musings with David Beckworth

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The French Revolution: A History of the Clergy

The clergy was by far the largest owner of land in France. The French public had a pretty strong distaste for paper money. So they tried to distance assonias from paper money per se. But very quickly people actually use the assonias to make transactions and you have this sort of like free banking.

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