The main goal of this article is to identify and critically examine the foundations of the monetary theories to which Lowndes and Locke appealed during their debate around the Great Recoinage of 1696. In the course of the investigation I came by the critical commentaries of Sir James Steuart and...

This article seeks to fill a lacuna within classical economics concerning the process of market price determination in situations of market disequilibrium. To this aim, first we distinguish the classical notion of free competition from the Walrasian notion of perfect competition and we argue...