A True Light in the Darkness: Gasparo Scaruffi and a Monetary Chimera in the Sixteenth Century
A True Light in the Darkness: Gasparo Scaruffi and a Monetary Chimera in the Sixteenth Century

Summary/Abstract: In a context of severe inflation and constant monetary alterations, Gasparo Scaruffi proposed a universal stable currency, based on the proportion existing in nature between the corresponding quantities of gold, silver, and a less noble metal (copper or bronze). In his L’Alitinonfo (1582) – whose title is a neologism resulting from the union of two ancient Greek words that together mean “true light” – Scaruffi explained a sort of moderate trimetallism in an articulated prose that demonstrates a close link with the abacus tradition and a not at all secondary alchemical knowledge. The primary focus on monetary policy makes L’Alitinonfo a completely original and unique work as well as a masterpiece in the history of economic theories.

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