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📖 Description
Joplin's treatise is noteworthy for its anticipation of principles of banking policy that were subsequently carried into effect by Peel's Act. Joplin also provided, unlike Henry Thornton, an explicit statement of the condition for stable equilibrium in the market for loanable funds. "Another significant but neglected Keynesian forerunner ... who, unlike Malthus, did treat saving as a function of income." M. Blaug Economic Theory in Retrospect