Comparative views on L. Walras and A. Cournot on the regulation of paper money: Rules vs. Discretion at the end of the XIXTH Century.

This paper presents Léon Walras and Augustin Cournot views on monetary regulation. Important differences can be found in their views about the convenience of the issuing of paper money and fiat money in general. Whereas Walras is against bank notes, even if coming from a central bank, Cournot has a...