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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180 POLITICAL ECONOMY price; and this ¡Supply price measures the inducements in the form of interest necessary to bring about additional increments of saving. It is this supply price which, in conjunction with the demand that measures the marginal worth of different quantities of capital, decrees the net rate of interest payable at any time. Again we observe how it is marginal incidents that directly move the economic world, In the last sentence I have introduced for the first time the phrase “ net interest.” Previously I have spoken simply of interest but I have meant by it net interest. At this point it is necessary to distinguish between net interest and gross interest. The latter is the interest which is actually paid. The former is the part of the payment which is simply remuneration for saving. Gross inter est includes, in addition to this, charges which are of the nature of insurance against risk, recompense for the inconveniences of certain investments and for any work entailed on the part of the investor. Hazards are greater in some industries or businesses than in others ; and the former, therefore, must offer a higher rate of interest than the latter in order to attract capital. In certain undertakings capital is either locked up for lengthy periods

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