Inroduction to Economic Science
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In our eReader you can find the full English version of the book. Read Inroduction to Economic Science 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 Inroduction to Economic Science
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But any modification of the gold in circulation can cause only one third as great a proportionate change in the total money in circulation, and almost all the burden of adjust- ing the quantity of money to the other changes in the equa- tion of exchange is thrown on gold. As gold requires time for minting or transportation, the adjustment is slow and clumsy as compared with the prompt issue or retirement of bank notes practiced in other countries. The seasonal changes in the purchasing power of... money, as well as the changes connected with crises and credit cycles, are there- fore greatly and unnecessarily aggravated.
CHAPTER XIV CONCLUSIONS ON MONEY § I. Can " Other Things remain Equal?" The chief purpose of the last six chapters is to set forth the causes determining the purchasing power of money.
This purchasing power has been studied as the effect of three, and only three, groups of causes. The three groups center on currency, on its velocity, and on the volume of trade. These and their effects, prices, we saw to be con- nected by an equation called the equation of exchange, MV -\- M'V' = ^pQ.
What to read after Inroduction to Economic Science?
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:
But any modification of the gold in circulation can cause only one third as great a proportionate change in the total money in circulation, and almost all the burden of adjust- ing the quantity of money to the other changes in the equa- tion of exchange is thrown on gold. As gold requires time for minting or transportation, the adjustment is slow and clumsy as compared with the prompt issue or retirement of bank notes practiced in other countries. The seasonal changes in the purchasing power of... money, as well as the changes connected with crises and credit cycles, are there- fore greatly and unnecessarily aggravated.
CHAPTER XIV CONCLUSIONS ON MONEY § I. Can " Other Things remain Equal?" The chief purpose of the last six chapters is to set forth the causes determining the purchasing power of money.
This purchasing power has been studied as the effect of three, and only three, groups of causes. The three groups center on currency, on its velocity, and on the volume of trade. These and their effects, prices, we saw to be con- nected by an equation called the equation of exchange, MV -\- M'V' = ^pQ.
What to read after Inroduction to Economic Science?
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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