The Value of Money

The Value of Money

The book delves into the value of money and its significance in economic theory. It covers various topics such as the role of money in economic life, the theory of credit, and the causes governing the volume of trade. The author argues that the main function of money and credit is in the process of dynamic readjustment, and challenges the validity of the quantity theory of money. The book also examines the relationship between banking and the stock market, and proposes that the Federal Reserve Banks should be allowed to rediscount loans on stock exchange collateral. Overall, it provides a comp...

The book delves into the value of money and its significance in economic theory. It covers various topics such as the role of money in economic life, the theory of credit, and the causes governing the volume of trade. The author argues that the main function of money and credit is in the process of dynamic readjustment, and challenges the validity of the quantity theory of money. The book also examines the relationship between banking and the stock market, and proposes that the Federal Reserve Banks should be allowed to rediscount loans on stock exchange collateral. Overall, it provides a comprehensive analysis of the value of money and its implications in economic systems.

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