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A 'Foundation In Nature': New Economic Criticism And The Problem Of Money In 1690s England, Courtney Smith

Courtney Weiss Smith

This essay reconsiders new economic criticism’s assumptions about the role of nature in late seventeenth- and early eighteenth-century economic thought. I take the debates surrounding the English recoinage crisis as a test case. As I read economic tracts by John Locke, William Lowndes, Nicholas Barbon, and James Hodges alongside an array of anonymous polemical policy pamphlets, I demonstrate that many writers addressed the recoinage problem by turning with urgency to the created natural world. They believed that close attention to the material properties of silver bullion, for example, could access encoded clues about God’s will for human economic institutions. I …