The Cost of Living
The Cost of Living
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In our eReader you can find the full English version of the book. Read The Cost of Living 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 The Cost of Living
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J. Gold Subject to Supply and Demand One further step now will aid to clearer un- derstanding later. Gold is a thing, bought and sold, just as other things are. Just as other marketed things, it is useful to man and it is limited in its supply relative to man's need for it. It is subject, then, to the same supply and demand conditions which affect man's measurements of the usefulness to him of other things. Increase its supply greatly, without changing the demand for it correspondingly, Money a...nd Prices 19 and man rates a unit of it as worth less to him, or gold may be said to grow cheaper. Increase the demand for it greatly without cor- respondingly increasing its supply, and man rates a unit of it as worth more to him than be- fore, or gold may be said to grow dearer.
All this may seem very clear and simple, but confusion enters easily when attempt is made to bring together this thinking about the prices of other things and this thinking about the value of gold. In the world's price-making the values of all other marketed things are esti- mated in terms of money; that is, as shown above, in terms of gold.
What to read after The Cost of Living?
You can find similar books in the "Read Also" column, or choose other free books by Walter Ernest Clark to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
J. Gold Subject to Supply and Demand One further step now will aid to clearer un- derstanding later. Gold is a thing, bought and sold, just as other things are. Just as other marketed things, it is useful to man and it is limited in its supply relative to man's need for it. It is subject, then, to the same supply and demand conditions which affect man's measurements of the usefulness to him of other things. Increase its supply greatly, without changing the demand for it correspondingly, Money a...nd Prices 19 and man rates a unit of it as worth less to him, or gold may be said to grow cheaper. Increase the demand for it greatly without cor- respondingly increasing its supply, and man rates a unit of it as worth more to him than be- fore, or gold may be said to grow dearer.
All this may seem very clear and simple, but confusion enters easily when attempt is made to bring together this thinking about the prices of other things and this thinking about the value of gold. In the world's price-making the values of all other marketed things are esti- mated in terms of money; that is, as shown above, in terms of gold.
What to read after The Cost of Living?
You can find similar books in the "Read Also" column, or choose other free books by Walter Ernest Clark to read onlineMoreLess
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