Economic Inquiries And Studies Volume 1

Paperback | October 12, 2012

bySir Robert Giffen

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This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1904 edition. Excerpt: ...by conversion, as we all know, has been most serious. It is obvious practically that there are many national debts where the appreciation of money, for the reasons stated, and also because the debt is so small, does not lead to such an increase of burden as to be serious. It does not follow, of course, that all communities and all national debts are in the same case. Where debts increase fast, and where, in addition, as in the case of France, there is no rapid increase of population, the problems involved in the appreciation of money may at any time become serious. I should look for troublous times, for instance, both for some of our Australasian colonies and for a country like the Argentine Republic, even if the appreciation does not grow more serious than it has been. That the pile of debts has to be paid, principal and interest, in appreciating money, even if individual money incomes do not diminish, is a most serious consideration. The increase of the wealth of such borrowers ought to be enormous to enable them to bear safely the debts they are incurring. The Future Course of Prices. What is to be the movement of prices in the future? Of course no one would attempt prophecy in such a matter. We can only assume the continuance of certain conditions which seem more or less probable, and infer from past experience what the result will be. In 1872 this method of proceeding enabled me to anticipate as highly probable the fall of prices which has since in fact occurred. What are the data now for an anticipation regarding the future? On this head then I am bound to say all the evidence seems to me to point to a continuance of the appreciation. So far as can be judged, there is no end to the progress of invention or improvement in industrial...

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This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1904 edition. Excerpt: ...by conversion, as we all know, has been most serious. It is obvious practically that there are many national de...

Format:PaperbackDimensions:134 pages, 9.69 × 7.44 × 0.29 inPublished:October 12, 2012Publisher:General Books LLCLanguage:English

The following ISBNs are associated with this title:

ISBN - 10:0217833985

ISBN - 13:9780217833981

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