Monetary Reform of Alexey Mikhailovich and the Problem of Trust
Abstract
The article raises the question of the factors that influence shaping of trust towards money and monetary reforms. From that angle, the shortrun success and the final collapse of Alexey Mikhailovich’s monetary reform (1654–1663) are reconsidered. Particular attention was given to the mistakes of authorities, the agio of copper and silver money, the real value of money, the counterfeiting and the perception of new «red» copper money among the population.
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economic history
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Articles of the St Petersburg University Journal of Economic Studies are open access distributed under the terms of the License Agreement with Saint Petersburg State University, which permits to the authors unrestricted distribution and self-archiving free of charge.