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The very same effect would be produced on prices if we suppose the goods
diminished, instead of the money increased: and the contrary effect if the goods
were increased, or the money diminished. If there were less money in the hands
of the ...
... than of coin; for as it can be melted without any loss of time, and with hardly
any expense, this would of course be done until the quantity in circulation was so
much diminished as to equalize its value with that of the same weight in bullion.
With Some of Their Applications to Social Philosophy John Stuart Mill. metal than
before, while his expenses will be greater: his profits therefore being diminished
or annihilated, he will diminish his production, if not abandon his employment.
... the lender's are as much diminished. The same sum cannot be used as capital
both by the owner and also by the person to whom it is lent: it cannot supply its
entire value in wages, tools, and materials, to two sets of labourers at once.
Thus the supply was increased beyond the calculation of the speculators: and at
the same time, the consumption had been diminished by the high price. There
was, conseQuently, a violent reaction on the market; the speculators were unable
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LibraryThing ReviewРецензія користувача - JohnPhelan - LibraryThing
Pragmatic or muddled? Mill sets out to explore economic principles but, ultimately, finds that there is no principle which doesn't have any amount of conceivable exceptions. You have to wonder why its ... Читати огляд повністю