Introduction -- Tooke's contributions -- Tooke's approach to value and distribution -- On Tooke's explanation of agricultural price movements -- An explanation of general price movements -- The monetary thought of the pre-banking school Tooke, 1819-1838 -- The monetary thought of the banking...

1. Introduction -- 2. Tooke's contributions -- 3. Tooke's approach to value and distribution -- 4. On Tooke's explanation of agricultural price movements -- 5. An explanation of general price movements -- 6. The monetary thought of the pre-banking school Tooke, 1819-1838 -- 7. The monetary...

This paper argues that Thomas Tooke's (1773-1858) most important legacy to economics is not his conception of quot;endogenous moneyquot;, however important, but is instead his original proposition that the long-run quot;averagequot; rate of interest entered into the normal cost of production...