The Measurement of General Exchange Value
The Measurement of General Exchange Value
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It is plain that if the |)rices are Irj-cf/ti/ar/i/ different at the third period, the direct comparison of the third with the first will not yield the same result as the indirect comparison of them through the intervening- period. We shall not pause to consider this in- consistency here, as it will again call for attention in the com- plete method involving this partial method. We shall at pres- ent devote our attention to the certain test yielded by a revision of everything at a later period ...to what it was at the first. Let us now see Iiom' the averages of the [)rice variations stand this test.
Averaging the al)ove sets of price variations harmonically, we •2 2 8 get, for the first, ^ ^ = 1. 00, and for the second, ^ g = ^ t + 3 2+9 = 0. 88 i-(»i; ( onstani- sims of § A i. !. (»(). And at the third the prices of these parts of A and H are . ({(ijr and l. -">. ")^ re- spectively, whieh are the arithnietie terms around unity. Nat- urally, therefore, only the arithmetic averajxP, with even weight- ing, will indicate constancy when prices vary in this way.
What to read after The Measurement of General Exchange Value?
You can find similar books in the "Read Also" column, or choose other free books by Correa Moylan Walsh to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
It is plain that if the |)rices are Irj-cf/ti/ar/i/ different at the third period, the direct comparison of the third with the first will not yield the same result as the indirect comparison of them through the intervening- period. We shall not pause to consider this in- consistency here, as it will again call for attention in the com- plete method involving this partial method. We shall at pres- ent devote our attention to the certain test yielded by a revision of everything at a later period ...to what it was at the first. Let us now see Iiom' the averages of the [)rice variations stand this test.
Averaging the al)ove sets of price variations harmonically, we •2 2 8 get, for the first, ^ ^ = 1. 00, and for the second, ^ g = ^ t + 3 2+9 = 0. 88 i-(»i; ( onstani- sims of § A i. !. (»(). And at the third the prices of these parts of A and H are . ({(ijr and l. -">. ")^ re- spectively, whieh are the arithnietie terms around unity. Nat- urally, therefore, only the arithmetic averajxP, with even weight- ing, will indicate constancy when prices vary in this way.
What to read after The Measurement of General Exchange Value?
You can find similar books in the "Read Also" column, or choose other free books by Correa Moylan Walsh to read onlineMoreLess
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