The Purchasing Power of Money: Its Determination and Relation to Credit, Interest and Crises - Couverture souple

Fisher, Irving; Brown, Harry Gunnison

Couverture souple

ISBN 10 : 161427343X ISBN 13 : 9781614273431

Editeur : Martino Fine Books, 2012

Synopsis

2012 Reprint of 1911 Edition. Exact facsimile of the original edition, not reproduced with Optical Recognition Software. 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 changes in the cost of living during this period, a development that 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 check; (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.... [From the Preface to the First Edition]

A propos du livre

Présentation de l'éditeur

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 check; (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, I and statistical verification. The main contentions of this book are at bottom simply a 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.
(Typographical errors above are due to OCR software and don't occur in the book.)

About the Publisher

Forgotten Books is a publisher of historical writings, such as: Philosophy, Classics, Science, Religion, History, Folklore and Mythology.

Forgotten Books' Classic Reprint Series utilizes the latest technology to regenerate facsimiles of historically important writings. Careful attention has been made to accurately preserve the original format of each page whilst digitally enhancing the aged text.

Présentation de l'éditeur

This book was originally published prior to 1923, and represents a reproduction of an important historical work, maintaining the same format as the original work. While some publishers have opted to apply OCR (optical character recognition) technology to the process, we believe this leads to sub-optimal results (frequent typographical errors, strange characters and confusing formatting) and does not adequately preserve the historical character of the original artifact. We believe this work is culturally important in its original archival form. While we strive to adequately clean and digitally enhance the original work, there are occasionally instances where imperfections such as blurred or missing pages, poor pictures or errant marks may have been introduced due to either the quality of the original work or the scanning process itself. Despite these occasional imperfections, we have brought it back into print as part of our ongoing global book preservation commitment, providing customers with access to the best possible historical reprints. We appreciate your understanding of these occasional imperfections, and sincerely hope you enjoy seeing the book in a format as close as possible to that intended by the original publisher.

Détails de l'édition

• Éditeur: Martino Fine Books
• Date d'édition: 2012
• Langue: anglais
• ISBN 10: 161427343X
• ISBN 13: 9781614273431
• Reliure: Broché
• Nombre de pages: 534
• Coordonnées du fabricant: non disponible
• Personne responsable: non disponible