El comercio y los comerciantes

Die nach dem Invaliditäts- und Altersversicherungsgesetze versicherten Personen

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Monograph

Identifikator:: 870662961

URN:: urn:nbn:de:zbw-retromon-49543

Document type:: Monograph

Author:: Guyot, Yves; Urbano, Rafael

Title:: El comercio y los comerciantes

Place of publication:: Madrid

Publisher:: Jorro

Year of publication:: 1914

Scope:: 1 Online-Ressource (VII, 557 Seiten)

Collection:: Economics Books

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Chapter

Document type:: Monograph

Structure type:: Chapter

Title:: Libro IV - La práctica del comercio

Collection:: Economics Books

350 a INTERNATIONAL TRADE The general index numbers will register a rise. As time goes on and readjustment is accomplished, the advance in prices of exported goods will cease; they will relapse to the same level as at the outset. The advance in import prices will continue and will be accentuated. The general price level will thus show a rise, tho not so marked a rise as during the period of lag. All these propositions rest on the premise that nothing happens to change the quantity of money in either country, or to change the velocity of circulation, the use of credit substitutes, and so on; nothing happens, either, as regards the general effectiveness of labor and the output of goods. I would lay stress again on the assumption of stability in the quantity of the paper money. In most discussions of international trade under inconvertible cur- rency attention has been given chiefly to the consequences of changes in the amount of the money; most of all, when these are connected with the fiscal needs of the issuing government. I am concerned here with the other question, comparatively neglected : how the matter lies in its essence, so to speak — how it lies apart from the fluctuations and perturbations which the history of paper money so frequently shows. A word further now as regards the assumed stability of domestic prices. That they remain unchanged may seem to have been laid down in the preceding paragraphs without sufficient considera- tion, let alone proof. It results from the fixity of the total money income of the population, from the fact that total spending power remains the same thruout (and also, we assume, the way in which the spending power is exercised remains the same). The whole of the goods, be there more or less of them, must sell for the same money sum. If then the output of goods remains constant, the price level will be unchanged; and moreover, in the absence of any cause affecting one article peculiarly, each individual article will remain likewise the same in price. If indeed something happens to increase the total output of the goods, or the total output of any individual good, prices will be affected, even tho total money income remains unchanged and the income of each several producer unchanged. If, for example,

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