Money And Value An Inquiry Into the Means And Ends of Economic Production With
Money And Value An Inquiry Into the Means And Ends of Economic Production With
Rowland Hamilton
The book Money And Value An Inquiry Into the Means And Ends of Economic Production With was written by author Rowland Hamilton Here you can read free online of Money And Value An Inquiry Into the Means And Ends of Economic Production With book, rate and share your impressions in comments. If you don't know what to write, just answer the question: Why is Money And Value An Inquiry Into the Means And Ends of Economic Production With a good or bad book?
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Hence it is that we see period- ically great commercial failures. The books often exhibit at the first a superabundance of the wealth to which every one had trusted ; further investiga- tion shows that on the most lenient assumption, none of those connected with the undertaking had any conception whatever of the real nature and extent of their obligations ; and the final result CONDITIONAL OWNERSHIP : CREDIT ; BANKING. 211 CHAP. IV. proves that the capital which should have been productive, has... on all sides, and long ago, been utterly misapplied and wasted. Capital and credit are, materially speaking, the same. The purchasing power implied by the use of either term is the same. The division is one only of ownership, implying a corresponding divi- sion of function, and while nothing can be gained by unduly confounding the individual rights and responsibilities of the lender and the user, all their broader and more permanent interests must be regarded as identical. The result under a fairly conducted system of free competition is the better adjustment of the work to be done to the various capacities of those engaged in it, and a consequent positive economy of labour for the benefit of the community served, especially when the casually adverse claims of those concerned are not suffered to obscure the true sentiment of co-operation.
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