The Purchasing Power of Money Its Determination And Relation to Credit Intere
The Purchasing Power of Money Its Determination And Relation to Credit Intere
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Improvements in production will affect price levels simply as they affect the volume of business transacted. Any rational study of the influence of improvements in methods of production upon the level of prices should, therefore, fix attention, first, on the resulting volume of trade, and should aim to discover whether this, in turn, carries prices upwards or down- wards.
One of the supposed causes of high prices to-day, much under discussion at the present time, is that of industrial and labor... combinations. From what has been said, it must be evident that, other things remain- ing equal, trusts cannot affect the general level of prices through manipulating special commodities except as they change the amounts sold. If prices for one com- modity are changed without a change in the number of sales, the effect on the price level will be neutralized by compensatory changes in other prices. If trade unions seek to raise prices of labor while trusts raise prices of commodities, the general level of everything may rise or fall; but it can rise only by a general decrease in the quantities of commodities, labor, etc.
What to read after The Purchasing Power of Money Its Determination And Relation to Credit Intere?
You can find similar books in the "Read Also" column, or choose other free books by Irving Fisher to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
Improvements in production will affect price levels simply as they affect the volume of business transacted. Any rational study of the influence of improvements in methods of production upon the level of prices should, therefore, fix attention, first, on the resulting volume of trade, and should aim to discover whether this, in turn, carries prices upwards or down- wards.
One of the supposed causes of high prices to-day, much under discussion at the present time, is that of industrial and labor... combinations. From what has been said, it must be evident that, other things remain- ing equal, trusts cannot affect the general level of prices through manipulating special commodities except as they change the amounts sold. If prices for one com- modity are changed without a change in the number of sales, the effect on the price level will be neutralized by compensatory changes in other prices. If trade unions seek to raise prices of labor while trusts raise prices of commodities, the general level of everything may rise or fall; but it can rise only by a general decrease in the quantities of commodities, labor, etc.
What to read after The Purchasing Power of Money Its Determination And Relation to Credit Intere?
You can find similar books in the "Read Also" column, or choose other free books by Irving Fisher to read onlineMoreLess
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