Money And Credit Instruments in Their Relation to General Prices
Money And Credit Instruments in Their Relation to General Prices
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Furthermore, it is to be noted that new habits of consumption and new methods of production established during such periods of adjustment often become permanent.
Cairnes 2 discusses at length the probable effect of the new gold supplies on the prices of different classes of com- modities. His general conclusions on this subject are suf- ficiently important to quote in full : First.- — That the commodities, the price of which may be ex- pected first to rise under the influence of the new money, ...are those which fall most extensively within the consumption of the productive classes, but more particularly within the con- sumption of the labouring and artisan section of these. Sec- ondly. — That of such commodities, that portion which consists of finished manufactures, though their price may in the first instance be rapidly raised, cannot continue long in advance of the general movement, owing to the facilities available for rap- idly extending the supply ; whereas, should the production, from overestimation of the increasing requirements, be once carried to excess, their prices in consequence of the difficulty of con- tracting supply, may be kept for some considerable time below the normal level.
What to read after Money And Credit Instruments in Their Relation to General Prices?
You can find similar books in the "Read Also" column, or choose other free books by Edwin Walter Kemmerer to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
Furthermore, it is to be noted that new habits of consumption and new methods of production established during such periods of adjustment often become permanent.
Cairnes 2 discusses at length the probable effect of the new gold supplies on the prices of different classes of com- modities. His general conclusions on this subject are suf- ficiently important to quote in full : First.- — That the commodities, the price of which may be ex- pected first to rise under the influence of the new money, ...are those which fall most extensively within the consumption of the productive classes, but more particularly within the con- sumption of the labouring and artisan section of these. Sec- ondly. — That of such commodities, that portion which consists of finished manufactures, though their price may in the first instance be rapidly raised, cannot continue long in advance of the general movement, owing to the facilities available for rap- idly extending the supply ; whereas, should the production, from overestimation of the increasing requirements, be once carried to excess, their prices in consequence of the difficulty of con- tracting supply, may be kept for some considerable time below the normal level.
What to read after Money And Credit Instruments in Their Relation to General Prices?
You can find similar books in the "Read Also" column, or choose other free books by Edwin Walter Kemmerer to read onlineMoreLess
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