Read The Purchasing Power of Money

The Purchasing Power of Money

Irving Fisher

4.9/5 (32574 ratings)

Description:Excerpt from The Purchasing Power of Money: Its Determination and Relation to Credit Interest and Crises The purpose of this book is to set forth the principles determining the purchasing power of money and to apply those principles to the study of historical changes in that purchasing power, including in particular the recent change in "the cost of living," which has aroused world-wide discussion. If the principles here advocated are correct, the purchasing power of money - or its reciprocal, the level of prices - depends exclusively on five definite factors: (1) the volume of money in circulation; (2) its velocity of circulation; (3) the volume of bank deposits subject to cheek; (4) its velocity; and (5) the volume of trade. Each of these five magnitudes is extremely definite, and their relation to the purchasing power of money is definitely expressed by an "equation of exchange." In my opinion, the branch of economics which treats of these five regulators of purchasing power ought to be recognized and ultimately will be recognized as an exact science, capable of precise formulation, demonstration, and statistical verification. The main contentions of this book are at bottom simply I restatement and amplification of the old "quantity theory" of money. With certain corrections in the usual statements of that theory, it may still be called fundamentally sound. What has long been needed is a candid reexamination and revision of that venerable theory rather than its repudiation.We have made it easy for you to find a PDF Ebooks without any digging. And by having access to our ebooks online or by storing it on your computer, you have convenient answers with The Purchasing Power of Money. To get started finding The Purchasing Power of Money, you are right to find our website which has a comprehensive collection of manuals listed.
Our library is the biggest of these that have literally hundreds of thousands of different products represented.

Pages: —

Format: PDF, EPUB & Kindle Edition

Publisher: —

Release: —

ISBN: 140995238X

Description: Excerpt from The Purchasing Power of Money: Its Determination and Relation to Credit Interest and Crises The purpose of this book is to set forth the principles determining the purchasing power of money and to apply those principles to the study of historical changes in that purchasing power, including in particular the recent change in "the cost of living," which has aroused world-wide discussion. If the principles here advocated are correct, the purchasing power of money - or its reciprocal, the level of prices - depends exclusively on five definite factors: (1) the volume of money in circulation; (2) its velocity of circulation; (3) the volume of bank deposits subject to cheek; (4) its velocity; and (5) the volume of trade. Each of these five magnitudes is extremely definite, and their relation to the purchasing power of money is definitely expressed by an "equation of exchange." In my opinion, the branch of economics which treats of these five regulators of purchasing power ought to be recognized and ultimately will be recognized as an exact science, capable of precise formulation, demonstration, and statistical verification. The main contentions of this book are at bottom simply I restatement and amplification of the old "quantity theory" of money. With certain corrections in the usual statements of that theory, it may still be called fundamentally sound. What has long been needed is a candid reexamination and revision of that venerable theory rather than its repudiation.We have made it easy for you to find a PDF Ebooks without any digging. And by having access to our ebooks online or by storing it on your computer, you have convenient answers with The Purchasing Power of Money. To get started finding The Purchasing Power of Money, you are right to find our website which has a comprehensive collection of manuals listed.
Our library is the biggest of these that have literally hundreds of thousands of different products represented.

Special Offer | $0.00

Special Offer! | $0.00

The Purchasing Power of Money

The Purchasing Power of Money

More Books

Extraordinary Popular Delusions and the Madness of Crowds: Volume 1, 2, and 3 (Illustrated and Bundled with Psychology of the Stock Market and Irving Fisher on Investment)

Extraordinary Popular Delusions and the Madness of Crowds: Volume 1, 2, and 3 (Illustrated and Bundled with Psychology of the Stock Market and Irving Fisher on Investment)

The Theory of Interest: As Determined by Impatience to Spend Income and Opportunity to Invest It

The Theory of Interest: As Determined by Impatience to Spend Income and Opportunity to Invest It

The Money Illusion

The Money Illusion

Celebrating Irving Fisher: The Legacy Of A Great Economist

Celebrating Irving Fisher: The Legacy Of A Great Economist

Irving Fisher Classic Collection on Purchasing Power, Dollar Stabilization, and Inflation (Illustrated)

Irving Fisher Classic Collection on Purchasing Power, Dollar Stabilization, and Inflation (Illustrated)

Booms and Depressions: Some First Principles

Booms and Depressions: Some First Principles

Irving Fisher: A Biography

Irving Fisher: A Biography

The Debt-Deflation Theory of Great Depressions

The Debt-Deflation Theory of Great Depressions

The Nature of Capital and Income

The Nature of Capital and Income