Elements of Political Economy
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In our eReader you can find the full English version of the book. Read Elements of Political Economy 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 Elements of Political Economy
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Thus the influ- ence of money, as capital, pervades the whole field of exchange, from centre to circumference, facilitat- ing every transfer, and stimulating to new transfers.
Money, then, is a medium of exchange ; and the question arises in this connection, how much of it is wanted ? Clearly, only so much as will serve the purposes which such a medium is fitted to subserve; there should be enough fairly to mediate between the services actually ready to be exchanged then and there, and also eno...ugh fairly to call out other services, proper and profitable in the then circum- stances of society, and whose only obstacle to a profitable exchange then and there, is the lack of a facilitating medium. All increase of money beyond this point, which the very nature of money itself marks out as the boundary, leads to a diminution in value of every part of it, to a consequent dis- turbance of all existing money contracts, to a uni- versal rise of prices which are illusory and gainless, to unsteadiness and derangement in all legitimate business, and to a spirit of restless enterprise and speculation, which seeks to draw ofl" the excess of money in untried and reckless experiments.
What to read after Elements of Political Economy?
You can find similar books in the "Read Also" column, or choose other free books by Arthur Latham Perry to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
Thus the influ- ence of money, as capital, pervades the whole field of exchange, from centre to circumference, facilitat- ing every transfer, and stimulating to new transfers.
Money, then, is a medium of exchange ; and the question arises in this connection, how much of it is wanted ? Clearly, only so much as will serve the purposes which such a medium is fitted to subserve; there should be enough fairly to mediate between the services actually ready to be exchanged then and there, and also eno...ugh fairly to call out other services, proper and profitable in the then circum- stances of society, and whose only obstacle to a profitable exchange then and there, is the lack of a facilitating medium. All increase of money beyond this point, which the very nature of money itself marks out as the boundary, leads to a diminution in value of every part of it, to a consequent dis- turbance of all existing money contracts, to a uni- versal rise of prices which are illusory and gainless, to unsteadiness and derangement in all legitimate business, and to a spirit of restless enterprise and speculation, which seeks to draw ofl" the excess of money in untried and reckless experiments.
What to read after Elements of Political Economy?
You can find similar books in the "Read Also" column, or choose other free books by Arthur Latham Perry to read onlineMoreLess
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