Das Arbeitsrecht der Čechoslovakischen Republik

Die Theorie der Volkswirtschaft

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Monograph

Identifikator:: 177130992X

URN:: urn:nbn:de:zbw-retromon-153391

Document type:: Monograph

Author:: Wokurek, Ludwig

Title:: Das Arbeitsrecht der Čechoslovakischen Republik

Place of publication:: Brünn

Publisher:: Verlag des "Hauptvereines deutscher Ingenieure in der Čsl. Republik"

Year of publication:: 1928

Scope:: XI, 405 S.

Digitisation:: 2021

Collection:: Economics Books

Usage license:: Get license information via the feedback formular.

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Document type:: Monograph

Structure type:: Index

Collection:: Economics Books

VALUE OF NOTES 57 although it will buy less than before. The answer to this is that it implies that value can and must pro- perly be measured in labour cost of production instead of in commodities and services ; the idea is that it has become more difficult to get gold and other commodities, and therefore they are more valuable, and the higher price in the unit of account merely gives expression te this, and therefore has not been produced by the issue. But we do not measure, and we do not wan* to measure, value in labour-cost of production ; if we aid so measure it, everything in savage or primitive times when the productiveness of industry is very low would be of enormous value. So this answer would be of no use if it were true, and that it is seldom, .f ever, true is suggested by the fact that it has almost always been put forward as one of the defences of over-issue, and it seems unlikely that inconvertibility and a decline in the productive- ness of industry so often go together. 4. The more acute Government apologists content themselves with alleging that the issue is only one of two or more causes tending to raise prices. There are always many causes tending to raise prices, so that this is sure to be tr:- and .t does not in the least destroy the force of tiie proposition that the issue tends to raise prices. 5. We now come to what is at once the most insidious and the most dangerous of all the arguments in favour of increasing issues. This is that the issuers have no control over the issue and that it is ‘“ automatic,” as it only takes place when the notes are asked for, so that they are ‘‘ issued in response to a genuine di mand and not forced on people.” It might as w "= rlaimed that the issue of pocket- money ‘ - not under the control of its parents b.caus. avtomatic, only taking place when 17° mc a’ .& for. Qld-age pensions,

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