The article was published in the Journal of Management and Financial Sciences Issue 58, pp. 55-73 (SGH Warsaw School of Economics; Collegium of Management and Finance)
The aim of this article is to attempt to answer the question of what Copernicus’ contribution to the quantity theory of money (QTM) consists in. In order to achieve this goal, it is necessary to find out how the quantity theory of money is defined and what views Copernicus had on monetary issues. In the existing literature, there is no reference of Copernicus’ concept to a specific version of QTM, which has evolved over the centuries, gaining its supporters as well as opponents. An attempt to answer this question is an important step towards assessing the importance of the Polish scholar’s contribution to the development of the theory of money. It will also show some universal elements in the perception of the idea of money held by people living in different epochs, enabling the contemporary man to place current monetary issues in a broader context. Does the form of money matter? This is a key question, although beyond the scope of this article, in the current debate about digital money, constantly accompanying its creation.
Nicolaus Copernicus as a monetary economist. pdf