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QWhen credit comes i a In - - a - m money in hand, we shall hereafter find that the
connexion between prićes and the amount of the circulating medium-is-much
less direct and intimate, and that such connexion as does exist, no longe mits of
... such a mass of the precious metals as exists in the whole commercial world.
And hence the effects of all changes in the conditions of production of the
precious metals are at first, and continue to be for many years, questions of
quantity only, ...
sost of production, some political economists have objected altogether to the
statement that the value of money depends on its quantity combined with the
rapidity of circulation; which, they think, is assuming a law for money that does
not exist ...
Where these do not exist, a prudent person must keep a sufficient sum
unemployed in his own possession, to meet every demand which he has even a
slight reason for thinking himself liable to. When the practice, however, has
grown up of ...
... turned to other purposes than that of paying the bill in question. No such power
exists; neither the man who holds the real bill, nor the man who discounts it, has
any property in the specific goods for CREDIT AS A SUBSTITUTE FOR MONEY.
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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