Economic schools

Manchester School

-Richard Cobden advocates free trade, including free trade in land

-which concludes with advocacy of land value tax

-to prevent the formation of a land monopoly

-implemented in British Isles by Heads of British Isles > 1846-1857 Wilfrid Lawson (Radical)

Birmingham School

-Thomas Attwood pursues idea of paper currency with moderate inflation

-but in wake of collapse of Bank of England under Heads of British Isles > 1834-1837 Samuel Whitbread (Radical) paper currency is literally unthinkable

-becomes implemented in the US by American Presidents > 1877-1879 John Wentworth (Justice) †

Concord School

-following theory of Daniel Webster Quiner

-from Concord, Indiana

-idea that currency should depreciate like any other asset to prevent hoarding

-every two weeks, people need to put a stamp on their currency to keep them valid

-stamps needing to be paid for

-supported as part of what's called "reflation"

-controlled, even inflation