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When jurists and business men assert that the depreciation of money has a very great influence on all kinds of debt relations, that it makes all kinds...more

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To recapitulate: the exchange-ratio subsisting between commodities and money is everywhere the same. But men and their wants are not everywhere the sa...more

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He who cares to go to the trouble of demonstrating the uselessness of index numbers for monetary theory and the concrete tasks of monetary policy will...more

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Hence, the statement that the cost of living is different in different localities only means that the same individual cannot secure the same degree of...more

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Local differences in the prices of commodities whose natures are technologically identical are to be explained on the one hand by differences in the c...more

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The jurist is totally unacquainted with the problem of the value of money; he knows nothing of fluctuations in its exchange-value. The naive popular b...more

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We can easily imagine a monetary organization which, by the exclusive use of notes or clearing-house methods, allows all transfers to be made with the...more

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There are two parts to the problem of measuring the objective exchange-value of money. First we have to obtain numerical demonstration of the fact of ...more

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To measure is to determine the ratio of one quantity to another which is invariable or assumed to be invariable. Invariability in respect of the prope...more

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Let us assume that a man gets half his income in the form of interest-bearing securities and half in the form of money; and that he is in the habit of...more

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Under bilateral competition, market-price is determined within a range whose upper limit is set by the valuations of the lowest bidder among the actua...more

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The moneyprice of any commodity in any place, under the assumption of completely unrestricted exchange and disregarding the differences arising from t...more

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Under certain conditions, index numbers may do very useful service as an aid to investigation into the history and statistics of prices; for the exten...more

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Money is not indefinitely divisible. Even with the assistance of money-substitutes for expressing fractional sums that for technical reasons cannot co...more

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But here again it must be observed that this is a matter of a variation brought about through dynamic agencies. The static state, for which the conten...more