MONEY, BANK CREDIT, AND ECONOMIC CYCLES phần 8 ppsx

... Law’s, 614 Money, Bank Credit, and Economic Cycles vol. 4; and also in Several Papers Relating to Money, Interest, and Trade, Etcetera (New York: Augustus M. Kelley, 19 68) . Locke was the first in England ... small payments, will demand the sum. In this first case, a banker’s cash does not represent as much as 10 percent of his business. (Italics added) 28 616 Money, B...

Ngày tải lên: 09/08/2014, 19:21

... bankrupt, as we see so often and Our Lord God per- mits, let him and his masters be lost like dishonest gains. 85 88 Money, Bank Credit, and Economic Cycles 84 Ibid., p. 190; italics added. 85 Ibid., ... keep these clients, the bankers renounce their fee and instead take money from those who owe them nothing. 88 90 Money, Bank Credit, and Economic Cycles...

Ngày tải lên: 09/08/2014, 19:21

... equal quantity and quality (the tantundem). Nevertheless, even though a 1 78 Money, Bank Credit, and Economic Cycles [t]he bank is expert on where its loans should be made and to whom, and reaps the ... a deposit and hands over the money based on that assumption, and the other receives the money as if it were a loan or mutuum and based on that 140 Money, Bank C...

Ngày tải lên: 09/08/2014, 19:21

... 1,000,000 Bank B 90,000 81 0,000 900,000 Bank C 81 ,000 729,000 81 0,000 Bank D 72,900 656,000 729,000 Bank E 65,600 590,000 656,000 Bank F 59,000 531,000 590,000 Bank G 53,100 4 78, 000 531,000 Bank H 47 ,80 0 ... by the other banks, as shown in Table IV-2. If all of the banks expand credit simultaneously, Bank A’s journal entries would appear as follows: 2 68 Money, B...

Ngày tải lên: 09/08/2014, 19:21

... profit and interest. 52 330 Money, Bank Credit, and Economic Cycles 50 See David Ricardo, The Works and Correspondence of David Ricardo, vol. 1: On the Principles of Political Economy and Taxation, ... which went completely unnoticed until Hayek studied it in 372 Money, Bank Credit, and Economic Cycles 81 As Ludwig von Mises wrote in 19 28: The banks can no lo...

Ngày tải lên: 09/08/2014, 19:21

... effects of banks’ creation of loans and the tightening effects the crisis exerts on the stages furthest from consumption. 19 This phenomenon can 4 18 Money, Bank Credit, and Economic Cycles 18 We are ... to consumers’ 434 Money, Bank Credit, and Economic Cycles 32 A detailed study of recovery and its different phases can be found on pp. 38 82 of Hayek’s book, Pro...

Ngày tải lên: 09/08/2014, 19:21

... money. 50 Nevertheless 542 Money, Bank Credit, and Economic Cycles and also “Business Cycles: Real Facts and Monetary Myth,” Federal Reserve Bank of Minneapolis Quarterly Review 14 (1990): 3– 18. Authors of these and ... fall. 8 516 Money, Bank Credit, and Economic Cycles 8 For our purposes, i.e., the analysis of the effects credit expansion exerts on the...

Ngày tải lên: 09/08/2014, 19:21

... boom and recession in 1770, 1772, 17 78, 1793, 1797, 180 2 – 180 3, 180 9– 181 0, 181 0– 181 1, 181 8– 181 9, 182 5– 182 6, 183 6– 183 7, 183 9, and 184 5– 184 7. In other words, even though in relative terms fewer bank ... expansion of credit, from prom- issory notes and their monetization, and from the specula- tion this expansion fueled and made possible. 16 7 28 Money,...

Ngày tải lên: 09/08/2014, 19:21

... Editorial, 19 98) . 81 6 Money, Bank Credit, and Economic Cycles ——, New Studies in Philosophy, Politics, Economics and the History of Ideas (London: Routledge and Kegan Paul, 19 78) . ——, ¿Inflación ... Reserve Currency,” Economic Journal 53, no. 210 (June–September 1943): 176 84 ; also Chapter 10 in Individualism and Economic Order, pp. 209–19. 83 0 Money, Bank...

Ngày tải lên: 09/08/2014, 19:21