Rice Vaughan

Rice Vaughan (d. circa 1672) was a seventeenth-century Anglo-Welsh lawyer and economist known for writing a seminal work on economics and currencies entitled A Discourse on Coins and Coinage.

Biography Rice Vaughan was the "second son of Henry Vaughan of Gelli-goch, Machynlleth, and Mary, daughter of Maurice Wynn of Glyn, near Harlech." (1675). He argued that it was a mass voluntary consensus, the "concurrence of mankind", that gave currency its value as a medium of exchange, not the laws which enforce the usage of currency or the inherent worth of a currency's material composition (such as gold or silver). (1856).