In English. Macleod H.D. The Theory Of Credit. Henry Dunning McLeod (MacLeod) (March 31, 1821, Edinburgh - July 16, 1902, Southall, Middlesex) - British economist and lawyer. MacLeod traveled throughout Europe, and in 1849 he was called to the English bar. He worked in Scotland on the reform of the Poor Law and devoted himself to the study of economics. In 1856 he published The Theory and Practice of Banking, in 1858 The Elements of Political Economy, and in 1859 A Dictionary of Political Economy. In 1873 his Principles of Economic Philosophy appeared, and in 1889 - The Theory of Credit. Between 1868 and 1870 he was employed by the government to digest and codify the law of bills of exchange. In 1896 he published The History of Economics. Macleod's main contribution to the study of economics lies in his work on theory, which he was the first to give due attention to. The main feature of his work was the creation of a theory of money, starting with the theory of credit, instead of the usual way back. In The Theory of Credit, he says: Money and credit are essentially of the same nature: money is only the highest and most general form of credit. MacLeod's credit theory of money influenced Alfred Mitchell-Innes and the later work of contemporary chartalists. John R. Commons considered Macleod's work to be the foundation of institutional economics. It was Macleod who coined the term Gresham's law in 1858. We have thousands of titles and often several copies of each title may be available. Please feel free to contact us for a detailed description of the copies available. SKUMS000231