Nature of Value With Criticisms of Current Opinions On the Money Question
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Increase of production of the money metals won't affect the value of money if its fabrica- tion into standard coin is forbidden by law. Allow the same forces and variety of causes increasing goods to play freely upon the money volume then would the increase of money diminish its purchasing power. Swapping rate, value, and would so countervail the lowering tendency of prices and give uniformity to them in the midst of abundant goods and abundant money; and uniformity of prices as before shown is... the same economical fact as constancy in the value of money. Im- proved prices come to stay, changes "hard times" into universal joy. Because price is the swapping rate or ratio between a unit of money and a unit of goods in terms of the former, a change in the price is simply a now ratio of market equivalence consequent on and expressive of the changed ratio of quantities of each offered in the market. Those two ratios, viz. , price and the ratio of quantities offered, are, to u. S e a technical word, functions of each other, i.
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You can find similar books in the "Read Also" column, or choose other free books by E D Everett D Stark to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
Increase of production of the money metals won't affect the value of money if its fabrica- tion into standard coin is forbidden by law. Allow the same forces and variety of causes increasing goods to play freely upon the money volume then would the increase of money diminish its purchasing power. Swapping rate, value, and would so countervail the lowering tendency of prices and give uniformity to them in the midst of abundant goods and abundant money; and uniformity of prices as before shown is... the same economical fact as constancy in the value of money. Im- proved prices come to stay, changes "hard times" into universal joy. Because price is the swapping rate or ratio between a unit of money and a unit of goods in terms of the former, a change in the price is simply a now ratio of market equivalence consequent on and expressive of the changed ratio of quantities of each offered in the market. Those two ratios, viz. , price and the ratio of quantities offered, are, to u. S e a technical word, functions of each other, i.
What to read after Nature of Value With Criticisms of Current Opinions On the Money Question?
You can find similar books in the "Read Also" column, or choose other free books by E D Everett D Stark to read onlineMoreLess
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