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... partly from the mass of vapoury and baseless speculation with which this, more
than any other topic of political economy, has in latter times become surrounded.
I shall therefore treat of the Value of Money in a chapter apart. CHAPTER VIII.
... sets of manufacturers and dealers before they assume the form in which they
are finally consumed, but because in times of speculation (and all times are so,
more or less) the same goods are often bought repeatedly, to be resold for a
If there be, at any time, an increase in the number of money transactions, a thing
continually liable to happen from differences in the activity of speculation, and
even in the time of year (since certain kinds of business are transacted only at ...
“They agree, inasmuch as each is a discountable article; each has also been
created for the purpose of being discounted; and each is, perhaps, discounted in
fact. Each, therefore, serves equally to supply means of speculation to * Pp. 29–
... is often heightened by merely speculative purchases, until it greatly exceeds
what the original grounds will justify. ... might take place in a community to which
credit was unknown: the prices of some commodities might rise from speculation,
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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