N13 - Economic History: Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations: Europe: Pre-1913Return

J. C. L. S. Sismondi was a Swiss historian, economist and writer. He is often cited as the last representative of the French branch of classical economics and a key author of the small producers type of theories. He left the classical liberal school and switched to economic romanticism. He has been indicated as the first author of systematic reflection on crises in opposition to contemporary conceptions of balance.

The article reminds of the world of futures contracts closed between subjects in the Austrian-Hungarian economic space in the period of ca. 1986-1914; an approach to the pricing of option contracts more than 100 years ago is elucidated. The form of a phenomenon of that time that will be called call-put parity in the future is explained. The author describes the procedure of option contract pricing in the form as it was known to our ancestors; this is the reason why he does not use mathematically formalised notation that was developed later.