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... but because they would not last, and because whoever contrived to realize
while they did last, would find himself, after the recoil, in possession of a greater
number of pounds sterling, without their having become of less value. If, at the
When England had the same number of pounds sterling to pay to France, which
France had to pay to her, one set of merchants in England would want bills, and
another set would have bills to dispose of, for the very same number of pounds ...
... being no material difference between one place and another in the relative
value of these metals. Suppose 25 francs to be (as within a trifling fraction it is)
the equivalent of a pound sterling. The debts and credits 176 BOOK III.
the equivalent of a pound sterling. The debts and credits of the two countries
would be equal, when the one owed as many times 25 francs, as the other owed
pounds. When this was the case, a bill on France for 2500 francs would be worth
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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