Political economy

Bibliographic data

Monograph

Identifikator:: 867647221

URN:: urn:nbn:de:zbw-retromon-93157

Document type:: Monograph

Author:: Chapman, Sydney John http://d-nb.info/gnd/123743141

Title:: Political economy

Place of publication:: London [u.a.]

Publisher:: Williams & Norgate [u.a.]

Year of publication:: 1912

Scope:: 1 Online-Ressource (255 Seiten)

Collection:: Economics Books

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

MONEY 119 are inseparable from cabs, so our inquiries lead us to the cost of production of cabs and an equation connecting the supplies of con veyance or transport obtainable from cabs with different quantities of them. The equa tion sought expresses indirectly the rapidity of circulation of cabs, so to speak. Now the problem of money is very like this problem. In the case of money, the thing demanded is facility for effecting exchanges, and the quantity of this facility depends upon the number of things with which it is associated (that is the quantity of coins of each sort), and their rapidity of circulation. Broadly speak ing we may say that rapidity of circulation refers to the number of times that a thing can repeat in a given period the services associated with it. It is true that the demand for money is a derived demand reflecting the demand for other things, but so is the demand for many articles. Coming back to the case of the cabs, we may say that the price of cabs is settled by the demand for them in relation to the marginal cost of production of different quantities of them ; but the demand for them is derived from the consumers’ demand for rides, and the supply forces, while expressing directly the cost of production of different quantities of cabs,

Access restriction

Copyright

fullscreen: Political economy

Monograph

Table of contents

Download

Monograph

This page

Image fragment

Citation links

Citation recommendation