The Theory Of Money And Credit Quotes

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The Theory Of Money And Credit Quote of the day

The balance-of-payments theory forgets that the volume of foreign trade is completely dependent upon prices

that neither exportation nor importation can occur if there are no differences in prices to make trade profitable.

The Theory Of Money And Credit Quotes: "Determinants of prices have their effect only through the medium of the subjective estimates of individuals"

Determinants of prices have their effect only through the medium of the subjective estimates of individuals

and the extent to which any given factor influences these subjective estimates can never be predicted.

The Theory Of Money And Credit Quotes: "By 'the objective exchange-value of money' we are accordingly to understand the possibility of obtaining a certain quantity of other economic goods in exchange for a given quantity of money"

By 'the objective exchange-value of money' we are accordingly to understand the possibility of obtaining a certain quantity of other economic goods in exchange for a given quantity of money

and by 'the price of money' this actual quantity of other goods.