Bankers' Money; a Supplement to "a Treatise On Money"
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In our eReader you can find the full English version of the book. Read Bankers' Money; a Supplement to "a Treatise On Money" Online - link to read the book on full screen. Our eReader also allows you to upload and read Pdf, Txt, ePub and fb2 books. In the Mini eReder on the page below you can quickly view all pages of the book - Read Book Bankers' Money; a Supplement to "a Treatise On Money"
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§ 6. Interaction between the two rates. — Accord- ingly there must be a constant interaction between loans for productive and for unproductive purposes.
If trade is flourishing, and gross profits, including profit-interest, are advancing, capital is directed to- wards industrial concerns ; and conversely, with a depression of trade and profit-interest declining, capital is turned to non-industrial loans or to advances to foreign states on which the yield is a little better.
§ 7. Interest is a p...rice and subject to the laws of prices — Competition and monopoly. — Interest for many purposes is best regarded as the price paid for the use of capital. And if .interest is once looked on as a price, it comes under the general principles determin- ing prices. In the course of progress the tendency of prices is to come under the influence of competition.
And if we take a rapid glance over the actual history of industrial progress, we find that one of the most striking results is the substitution of the principle of THE RATE OF INTEREST 49 competition for the principle of monopoly in the determination of interest.
What to read after Bankers' Money; a Supplement to "a Treatise On Money"?
You can find similar books in the "Read Also" column, or choose other free books by Nicholson, J. Shield (Joseph Shield), 1850-1927 to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
§ 6. Interaction between the two rates. — Accord- ingly there must be a constant interaction between loans for productive and for unproductive purposes.
If trade is flourishing, and gross profits, including profit-interest, are advancing, capital is directed to- wards industrial concerns ; and conversely, with a depression of trade and profit-interest declining, capital is turned to non-industrial loans or to advances to foreign states on which the yield is a little better.
§ 7. Interest is a p...rice and subject to the laws of prices — Competition and monopoly. — Interest for many purposes is best regarded as the price paid for the use of capital. And if .interest is once looked on as a price, it comes under the general principles determin- ing prices. In the course of progress the tendency of prices is to come under the influence of competition.
And if we take a rapid glance over the actual history of industrial progress, we find that one of the most striking results is the substitution of the principle of THE RATE OF INTEREST 49 competition for the principle of monopoly in the determination of interest.
What to read after Bankers' Money; a Supplement to "a Treatise On Money"?
You can find similar books in the "Read Also" column, or choose other free books by Nicholson, J. Shield (Joseph Shield), 1850-1927 to read onlineMoreLess
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