Stafford, William

Born Mar. 1, 1554, in Rochford, Essex; died Nov. 16, 1612, in London. English economist; representative of early mercantilism.

Stafford is the alleged author of the pamphlet A CompendiousExamination of Certain Ordinary Complaints, published in 1581 under the initials “W. S.” An advocate of the active regulation of money, the pamphlet’s author considered that the debasement of coinage and the outflow of debased coinage abroad lead to higher prices and a lower standard of living at home. Stafford considered that economic problems could be solved by forbidding the export of gold and silver and regulating commerce in order to limit imports. He spoke in favor of national industry, suggesting that it would help reduce dependence on imports and at the same time lead to an improvement in the monetary balance of the country.