Economics volume 1
Economics volume 1
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In our eReader you can find the full English version of the book. Read Economics volume 1 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 Economics volume 1
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3, on the relation of time to value, and sec. 5 on agencies for postponing the uses of goods.
244 TIME-VALUE AND INTEREST [Px. IV !\ r I T &* Shall the rare flask of wine of romance be opened now, or kept for some future greater occasion? Often, however, the question presented is that of distributing a stock of like units, or of like uses, over two or more time-periods. In such a case as the bountiful crop, the surplus overflowing the usual de- mands of the present is held for the future. The a...nticipated future desires factor as present desires (more or less weakened by time or perspective it may be). They claim a portion of the present stock, that portion which if used at present would have a smaller value. Each unit of like goods, under the law of indifference, must have equal value at the moment whether to be used at the pres- ent or the future (tho it may have a higher value when later used) . Until this adjustment is complete, units are shifted from one time period to another, ac- cording to the law of substitution.
What to read after Economics volume 1?
You can find similar books in the "Read Also" column, or choose other free books by Fetter, Frank A. (Frank Albert), 1863-1949 to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
3, on the relation of time to value, and sec. 5 on agencies for postponing the uses of goods.
244 TIME-VALUE AND INTEREST [Px. IV !\ r I T &* Shall the rare flask of wine of romance be opened now, or kept for some future greater occasion? Often, however, the question presented is that of distributing a stock of like units, or of like uses, over two or more time-periods. In such a case as the bountiful crop, the surplus overflowing the usual de- mands of the present is held for the future. The a...nticipated future desires factor as present desires (more or less weakened by time or perspective it may be). They claim a portion of the present stock, that portion which if used at present would have a smaller value. Each unit of like goods, under the law of indifference, must have equal value at the moment whether to be used at the pres- ent or the future (tho it may have a higher value when later used) . Until this adjustment is complete, units are shifted from one time period to another, ac- cording to the law of substitution.
What to read after Economics volume 1?
You can find similar books in the "Read Also" column, or choose other free books by Fetter, Frank A. (Frank Albert), 1863-1949 to read onlineMoreLess
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