Political economy

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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

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MONEY 137 fice some profits in the interests of the community. We have learnt that variations take place from time to time in the purchasing-power of money, owing to the influence of the trade cycle. When trade is good prices rise. It might be thought that when trade was good prices would fall, because when trade is good production is stimulated, the output increases, and there is more for money to buy. At the same time, however, money power increases in consequence of an augmented rapidity of circulation of money and larger issues of credit money, as we have seen, and this latter influence more than counteracts the former. It is now important to notice that the purchasing-power of money alters not only cyclically but also independently of the state of trade. On the one side the value of money is affected by the volume of production. Inventions which render pro duction easier increase the supply of goods and tend to lower prices. On the other side, it is affected by supplies of gold and the development of banking. New discoveries of gold and the introduction of easier methods of winning it, by adding to the supplies of bullion upon which the quantity of money

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