THE CAUSES OF THE ECONOMIC CRISIS phần 6 pps

... 3. THE CIRCULATION CREDIT THEORY Of all the theories of the trade cycle, only one has achieved and retained the rank of a fully-developed economic doctrine. That is the theory advanced by the ... School, the theory which traces the cause of changes in business conditions to the phenomenon of circulation credit. All other theories of the crisis, even when t...

Ngày tải lên: 09/08/2014, 20:20

... 152 4. The Future 153 3—T HE CAUSES OF THE ECONOMIC CRISIS (1931) 155 I. The Nature and Role of the Market 155 1. The Marxian “Anarchy of Production” Myth 155 2. The Role and Rule of Consumers 1 56 3. ... Unemployment 164 1. The Market Wage Rate Process 164 2. The Labor Union Wage Rate Concept 166 3. The Cause of Unemployment 167 4. The Remedy for Mas...

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... clearings at the 16 — The Causes of the Economic Crisis If, with the suspension of printing press operations, the mone- tary policy reforms are declared at an end, then obviously the value of the German ... needed for these purposes are, for the most part, already available within the country. The 10 — The Causes of the Economic Crisis 4— The Ca...

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... result, therefore, the balance of payments becomes decisive 40 — The Causes of the Economic Crisis (2) On the other hand, whether it might not also be neces- sary to limit similarly the issue of other ... prescribed the Banking Theory. It has moreover even revived the doctrine of the canonists and of the legal authorities of the Middle Ages to the effec...

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... increasing the quantity of money. In place 60 — The Causes of the Economic Crisis 7 [This is not the place to examine further the theory of the formation of the purchasing power of the monetary ... Circulation Credit Theory, developed out of the Currency Theory and usually called the “Monetary Theory of the Trade Cycle.” These theories, of course,...

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... also the theory of intermediate (indirect) exchange, i.e., the theory of a generally accepted medium of exchange (monetary theory) and the theory of fiduciary media (banking theory) with all their ... theory is the emphasis he gave to the previously little noted effect of 82 — The Causes of the Economic Crisis 4. CHANGES IN WEALTH AND INCOME However, the soci...

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... obstacle in the way of the development of fiduciary media in the form of bank deposits. 114 — The Causes of the Economic Crisis and proceeding always to make loans below the rate of interest which ... out as the result of a change in the conduct of the banks. The later the crack-up comes, the longer the period in which the calculation of the...

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... regularity in the timing of the movements in the three curves. 1 36 — The Causes of the Economic Crisis There is no need to share the exuberant expectations for the practical usefulness of the Harvard ... “controlling the money market.” For the bank of issue, the restriction of circulation credit means the renunciation of profits. It may even mean l...

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... on the part of the labor unions presup- poses, of course, that the government at least acquiesces in their behavior. 166 — The Causes of the Economic Crisis supply and demand, by the value the ... the living standard of the masses, that accompanied the development of capitalism, is the The Causes of the Economic Crisis: An Address — 165 3....

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... [during the nineteenth century] at the time of the drive for bimetallism. 1 86 — The Causes of the Economic Crisis 3 An extreme example: the discount policy of the German Reichsbank in the time of ... the economic crisis, the breakdown of interventionist economic policy the policy being followed today by all govern- ments, irrespective of whether...

Ngày tải lên: 09/08/2014, 20:20