Money a Study of the Theory of the Medium of Exchange
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In our eReader you can find the full English version of the book. Read Money a Study of the Theory of the Medium of Exchange 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 Money a Study of the Theory of the Medium of Exchange
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This statement has an element of truth, but needs to be carefully made in order not to mislead. If the money in use were non-material, the statement would be true; but the money article is material. In order to serve its purpose it must be divided and distrib- uted among many people, over large areas. This physical division and distribution cannot take place unless there is a certain quantity. There must be enough to work with, else the physical difficulties of barter would simply be replaced w...ith the phys- ical difficulties of money exchange. When this working minimum of money, whatever it is, is ob- tained, an actual ratio of exchange between money and goods emerges. This minimum just removes the expense of the most expensive portion of barter exchange. The total value of money may, there- fore, fluctuate between this minimum -and the greatest possible amount of utilities derivable from exchange, but will always be determined by the utilities which it creates or saves. The total value of money being determined, the value of the unit of money will be proportionate to the number of units.
What to read after Money a Study of the Theory of the Medium of Exchange?
You can find similar books in the "Read Also" column, or choose other free books by David Kinley to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
This statement has an element of truth, but needs to be carefully made in order not to mislead. If the money in use were non-material, the statement would be true; but the money article is material. In order to serve its purpose it must be divided and distrib- uted among many people, over large areas. This physical division and distribution cannot take place unless there is a certain quantity. There must be enough to work with, else the physical difficulties of barter would simply be replaced w...ith the phys- ical difficulties of money exchange. When this working minimum of money, whatever it is, is ob- tained, an actual ratio of exchange between money and goods emerges. This minimum just removes the expense of the most expensive portion of barter exchange. The total value of money may, there- fore, fluctuate between this minimum -and the greatest possible amount of utilities derivable from exchange, but will always be determined by the utilities which it creates or saves. The total value of money being determined, the value of the unit of money will be proportionate to the number of units.
What to read after Money a Study of the Theory of the Medium of Exchange?
You can find similar books in the "Read Also" column, or choose other free books by David Kinley to read onlineMoreLess
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