Money and the Mechanism of Exchange

Money and the Mechanism of Exchange

In preparing this volume, I have attempted to write a descriptive essay on the past and present monetary systems of the world, the materials employed to make money, the regulations under which the coins are struck and issued, the natural ...

Author: W. Stanley Jevons

Publisher: Cosimo, Inc.

ISBN: 9781596052604

Category: Business & Economics

Page: 372

View: 731

In preparing this volume, I have attempted to write a descriptive essay on the past and present monetary systems of the world, the materials employed to make money, the regulations under which the coins are struck and issued, the natural laws which govern their circulation, the several modes in which they may be replaced by the use of paper documents, and finally, the method in which the use of money is immensely economized by the cheque and clearing system now being extended and perfected.-from the PrefaceAs the global economy reels from ongoing threats of terrorism, skyrocketing oil prices, war, and political strife, this classic exploration of the basics of our sophisticated economic environment offers a profound look at what we often take for granted. Jevons, a pioneer of modern economic thought, examines: the early history of money the invention of coins the principles of circulation the varieties of promissory notes the fundamental nature of credit the basis of a national economy and much more.First published in 1875, this remains a vital foundation for understanding the world monetary situation we face in the 21st century.English economist and logician W. STANLEY JEVONS (1835-1882) was born in Liverpool. He studied chemistry and botany at University College, London, and was later professor of logic and political economy at Owens College, Manchester. He is also the author of The Theory of Political Economy (1871) and The State in Relation to Labour (1882).
Categories: Business & Economics

Money the Mechanism of Exchange

Money   the Mechanism of Exchange

quired to , exchange for other coins . If I understand the matter aright , then ,
There are two ways in which the metallic every person is at liberty to buy , sell , of
value of a coin may be reduced below its exchangein terms of any money or ...

Author: William Stanley Jevons


ISBN: UOM:39015064477113

Category: Exchange

Page: 95

View: 633

Categories: Exchange

Money and Exchange

Money and Exchange

Chapter 1 of William Stanley Jevons's Money and Mechanism of Exchange
begins with the following: Barter Some years since, Mademoiselle Zélie, a singer
of the Théâtre Lyrique at Paris, made a professional tour round the world, and
gave a ...

Author: Sasan Fayazmanesh

Publisher: Routledge

ISBN: 9781134423194

Category: Business & Economics

Page: 192

View: 298

Whether a theoretical system is realistic or not has been a concern in economics, particularly in monetary theory, over the past century. Following John R. Hicks’ proposal that a realistic monetary theory could be constructed along an evolutionary path, starting with the workings of a real market, this volume considers whether we can look to the medieval economy as the point of departure. Drawing upon the work of Aristotle, scholastic economists, Adam Smith, Karl Marx, William Stanley Jevons, Léon Walras and many modern monetary theorists, this intriguing book provides a critical analysis of some basic theories of monetary analysis. Concentrating primarily on certain fundamental building blocks it covers: the theory and mathematical properties of barter and monetary relations the distinction between barter and monetary relations and money and non-money commodities the concept of exchange as an equation, and the notion of the exchange relation as a relation of equality. This groundbreaking study dispels some of the old myths and conjectures concerning money and exchange and opens up the way for the development of new approaches, both realistic and evolutionary, of interest to researchers and students of the history of monetary theory and economic thought.
Categories: Business & Economics

The Purchasing Power of Money

The Purchasing Power of Money

EQUATION OP EXCHANGE §1 We define money as ... XIII; Jevons, Money and
the Mechanism of Ex~ change, London (Kegan Paul) and New York (Appleton),
1896; ...

Author: Irving Fisher

Publisher: Cosimo, Inc.

ISBN: 9781602069572

Category: Business & Economics

Page: 528

View: 232

Perhaps America's first celebrated economist, Irving Fisher-for whom the Fisher equation, the Fisher hypothesis, and the Fisher separation theorem are named-staked an early claim to fame with his revival, in this 1912 book, of the "quantity theory of money." An important work of 20th-century economics, this work explores: the circulation of money against goods the various circulating media the mystery of circulating credit how a rise in prices generates a further rise influence of foreign trade on the quantity of money the problem of monetary reform and much more. American economist IRVING FISHER (1867-1947) was professor of political economy at Yale University. Among his many books are Mathematical Investigations in the Theory of Value and Prices (1892), The Rate of Interest (1907), Why Is the Dollar Shrinking? A Study in the High Cost of Living (1914), and Booms and Depressions (1932).
Categories: Business & Economics

Credit Currencies and Culture

Credit  Currencies  and Culture

More than the other functions , money as a medium of exchange and means of
payment is the test of whether a money is ... Key works in the develop ment of the
tradition were W.S. Jevons , Money and the Mechanism of Exchange ( London ...

Author: Endre Stiansen

Publisher: Nordic Africa Institute

ISBN: 9171064427

Category: Business & Economics

Page: 174

View: 809

A striking feature of African history is the volume of commerce and production that has been possible without the full panoply of credit, insurances, future markets, stock companies, limited liability, and other legal and financial services that make up the formal sector of modern economies. The contributions to this volume investigate institutional nexuses through which money has been managed in Africa. Together they present important perspectives that are needed to understand the present economic crisis on the continent.
Categories: Business & Economics

Money and Its Laws

Money and Its Laws

by Dogberry to the watch : " If be will not ' exchange,' let him go, and thank God
you are rid of a knave " ! Again : — " We now come to the undisguised ... 2 1
Money and the Mechanism of Exchange, pp. 234, 235. 2 Money and the
Mechanism of ...

Author: Henry Varnum Poor

Publisher: The Lawbook Exchange, Ltd.

ISBN: 9781584776406

Category: Business & Economics

Page: 623

View: 300

Paying particular attention to positive and customary law, Poor [1812-1905] traces the history of money from biblical times to the 1870s. More than a chronicle, this book is an ambitious work of economic theory. Though the book was generally considered a failure from a theoretical point of view, it was always esteemed for its legal perspective and review of the literature. To quote an early review in the February 1878 issue of the Atlantic Monthly, it gives the reader "all that is worth listening to in any noted writer on money from Aristotle down to the present time....The entire freedom with which the author deals with the greatest reputations makes his work extremely 'lively reading;' and even those who disagree with him cannot fail to find it entertaining" (266).
Categories: Business & Economics

Determinants and Systemic Consequences of International Capital Flows

Determinants and Systemic Consequences of International Capital Flows

Goodfriend , Marvin S. , “ Central Banking Under the Gold Standard , " in Money
Cycles , and Exchange Rates : Essays in Honor of Allan H. Meltzer ... Jevons ,
William S. , Money and the Mechanism of Exchange ( New York : Appleton , 1898
) .

Author: Morris Goldstein

Publisher: International Monetary Fund

ISBN: 1557752052

Category: Business & Economics

Page: 94

View: 508

The growing integration of capital markets has strengthened incentives for greater international coordination of economic and financial policies. Structural changes in these financial market, however, may have undermined the effectiveness of monetary and fiscal policy and complicated market access by developing countries. These are among the findings of this study of capital flows in the 1970s and the 1980s.
Categories: Business & Economics

Catalogue of the Anderson free library Woodside

Catalogue of the Anderson free library  Woodside

Stanley W . ) Money and the Mechanism of Exchange . 1876 . Barter . Exchange .
Functions of Money . Coins . Circulation Systems of Metallic Currency . Battle of
the Standards . International Money . Mechanism of Exchange . Promissory ...

Author: Woodside Anderson free libr


ISBN: OXFORD:590845991

Category: Libraries

Page: 1880

View: 995

Categories: Libraries

Hayek and Behavioral Economics

Hayek and Behavioral Economics

Jevons, William Stanley, Money and the Mechanism of Exchange (London: D.
Appleton& Co.,1875). Kirman, AlanP.,“Whom or What does the Representative
Individual Represent?,” Journal of Economic Perspectives 6(1992): 117–136.

Author: R. Frantz

Publisher: Springer

ISBN: 9781137278159

Category: Business & Economics

Page: 349

View: 602

An exploration of Friedrich Hayek's contribution to the foundation of behavioural economics, and how his work interacted with and complemented that of his contemporaries. Chapters include detailed discussions of the concept of rationality, psychology and Hayek's philosophical theories as well as the historical context in which he lived and worked.
Categories: Business & Economics

Lectures on Political Economy Routledge Revivals

Lectures on Political Economy  Routledge Revivals

... we recommend the excellent essay by E. Nasse, in Scho'nberg's Handbuch (
supplemented by W. Lexis, and by C. Menger's essay in the Handworterbuch,
which is more theoretical). J evons's Money and the Mechanism of Exchange (
which ...

Author: Knut Wicksell

Publisher: Routledge

ISBN: 9781136842603

Category: Business & Economics

Page: 578

View: 689

First published in English in 1934 and 1935, this Routledge Revival set is a reissue of Knut Wicksell's two volume work on political economy, first published in Sweden in 1901 and 1906. Volume I concerns itself predominiantly with issues of theory: specifically the theory of value, the theory of production and distribution and the theory of capital accumulation. Volume II deals with theories relating to money, currency and credit.
Categories: Business & Economics

Man Economy and State with Power and Market

Man  Economy  and State with Power and Market

36Jevons, Money and the Mechanism of Exchange, pp. 211–12. 37Jevons stated
: If pecuniary promises were always of a special character, there could be no
possible harm in allowing perfect freedom in the issue of promissory notes.

Author: Clasicos-economia

Publisher: Bubok

ISBN: 9788468628936

Category: Business & Economics

Page: 1505

View: 368

The era of modern economics emerged with the publication of Carl Menger?s seminal work, Principles of Economics, in 1871. In this slim book, Menger set forth the correct approach to theoretical research in economics and elaborated some of its immediate implications. In particular, Menger sought to identify the causal laws determining the prices that he observed being paid daily in actual markets.4 His stated goal was to formulate a realistic price theory that would provide an integrated explanation of the formation of market phenomena valid for all times and places.5 Menger?s investigations led him to the discovery that all market prices, wage rates, rents, and interest rates could ultimately be traced back to the choices and actions of consumers striving to satisfy their most important wants by ?economizing? scarce means or ?economic goods.? Thus, for Menger, all prices, rents, wage, and interest rates were the outcome of the value judgments of individual consumers who chose between concrete units of different goods according to their subjective values or ?marginal utilities? to use the term coined by his student Friedrich Wieser. With this insight was born modern economics.
Categories: Business & Economics

The Gold Standard at the Turn of the Twentieth Century

The Gold Standard at the Turn of the Twentieth Century

Rising Powers, Global Money, and the Age of Empire Steven Bryan. ——. ... “
Inconvertible Paper Money, Inflation, and Economic Performance in Early
Nineteenth Century Argentina.” Journal of Latin ... Money and the Mechanism of

Author: Steven Bryan

Publisher: Columbia University Press

ISBN: 9780231526333

Category: History

Page: 288

View: 940

By the end of the nineteenth century, the world was ready to adopt the gold standard out of concerns of national power, prestige, and anti-English competition. Yet although the gold standard allowed countries to enact a virtual single world currency, the years before World War I were not a time of unfettered liberal economics and one-world, one-market harmony. Outside of Europe, the gold standard became a tool for nationalists and protectionists primarily interested in growing domestic industry and imperial expansion. This overlooked trend, provocatively reassessed in Steven Bryan's well-documented history, contradicts our conception of the gold standard as a British-based system infused with English ideas, interests, and institutions. In countries like Japan and Argentina, where nationalist concerns focused on infant-industry protection and the growth of military power, the gold standard enabled the expansion of trade and the goals of the age: industry and empire. Bryan argues that these countries looked less to Britain and more to North America and the rest of Europe for ideological models. Not only does this history challenge our idealistic notions of the prewar period, but it also reorients our understanding of the history that followed. Policymakers of the 1920s latched onto the idea that global prosperity before World War I was the result of a system dominated by English liberalism. Their attempt to reproduce this triumph helped bring about the global downturn, the Great Depression, and the collapse of the interwar world.
Categories: History

The History and Mechanism of the Exchange Equalisation Account

The History and Mechanism of the Exchange Equalisation Account

... of the E . E . A . which we have already considered , i . e . the Bank Lof England
and the commercial banks , there is also the Money Market * consisting of banks ,
discount houses and bill brokers , the Gold Market and the Stock Exchange .


Publisher: CUP Archive




View: 111


Exchange Rate Theory and Practice

Exchange Rate Theory and Practice

This volume grew out of a National Bureau of Economic Research conference on exchange rates held in Bellagio, Italy, in 1982.

Author: National Bureau of Economic Research

Publisher: University of Chicago Press

ISBN: 0226050963

Category: Business & Economics

Page: 528

View: 612

This volume grew out of a National Bureau of Economic Research conference on exchange rates held in Bellagio, Italy, in 1982. In it, the world's most respected international monetary economists discuss three significant new views on the economics of exchange rates - Rudiger Dornbusch's overshooting model, Jacob Frenkel's and Michael Mussa's asset market variants, and Pentti Kouri's current account/portfolio approach. Their papers test these views with evidence from empirical studies and analyze a number of exchange rate policies in use today, including those of the European Monetary System.
Categories: Business & Economics

Addresses Upon Selected Financial Subjects and a Series of Papers on Banking

Addresses Upon Selected Financial Subjects and a Series of Papers on Banking

with a legal - tender money function in the form of a noninterest - bearing
currency , and with this buy gold or silver ... as a money mechanism of exchange
by itself , but must have added to it the credit of the nation to make up any
deficiency in ...

Author: World's congress of bankers and financiers


ISBN: IND:30000113438802



View: 547


World s Congress of Bankers and Financiers Comprising Addresses Upon Selected Financial Subjects

World s Congress of Bankers and Financiers  Comprising Addresses Upon Selected Financial Subjects

with a legal - tender money function in the form of a noninterest - bearing
currency , and with this buy gold or silver when ... So long as this unwillingness
exists in the minds of men , it can not be used as a money mechanism of
exchange by ...

Author: World's congress of bankers and financiers, Chicago, 1893


ISBN: UOM:39015067079767

Category: Banks and banking

Page: 615

View: 662

Categories: Banks and banking

Money in the Macroeconomy

Money in the Macroeconomy

It is impossible to tell whether money - supply control or exchange - rate control
produces the smaller deviation of output from its ... This compromise monetary
mechanism is even better than that available to the closed economy , where
money ...

Author: Martin F. J. Prachowny

Publisher: Cambridge University Press

ISBN: 0521315948

Category: Business & Economics

Page: 339

View: 118

Focuses on the role of money in the macroeconomy and on monetary policy as an instrument for controlling inflation and unemployment. Emphasizes three important macrovariables: the rate of inflation, the interest rate, and output/income.
Categories: Business & Economics

Money Investment and Consumption

Money  Investment and Consumption

With, however, transition periods linked to the trade or business cycle, which
Fisher was persuaded was of a ten-year periodicity,12 'periods of transition are
the rule and those of equilibrium the exception, [and] the mechanism of exchange
is ...

Author: O. F. Hamouda

Publisher: Edward Elgar Publishing

ISBN: 9781849803335

Category: Business & Economics

Page: 264

View: 939

Professor Hamouda s book is very timely and thought provoking and should be an eye opener for students of economics who were brought up in the anti-Keynesian last decades of the twentieth century, or were taught the garbled rather than updated revived Keynesianism which has recently become popular. Y.S. Brenner, Retired Professor of Economics, Utrecht University, The Netherlands Contrary to the commonly perpetuated belief that Keynes s theory is appropriate only to economic depressions, the author of this provocative book maintains that Keynes provided a complete set of macroeconomic relations and the ingredients of a new theoretical model, much more reflective of and analytically appropriate to the 21st century than those on which current macroeconomics is based. With the perspective of Keynes as the backdrop, the author begins with a discussion of the characteristics of the financial crises of 2008 and the 1930s. He then goes on to show that Keynes provided a novel, general theory, constructed as the EC-SP model (different from that of the Classicals Labour Theory of Value model and the neoClassicals antithetical IS-LM model), a theory yet unrecognized as being behind both A Treatise on Money and The General Theory. He presents here the premises of Keynes s contributions which still await use by a generation of economists to reassess macroeconomics and orient it in a new direction. This unique and authoritative look at Keynes s body of work will be an essential read for scholars and students of economics. Anyone trying to understand the state of the entrepreneurial economy , of which the 2008 financial crisis is but one manifestation prone to recurrence, will find the work an important resource.
Categories: Business & Economics

Collectivist Economics

Collectivist Economics

WALKER says in the preface to his book, Money, that the problems connected
with Money and Exchange are " the deep, dark questions which constitute what

Author: James Haldane Smith

Publisher: Routledge

ISBN: 9781136505560

Category: Business & Economics

Page: 240

View: 989

Collectivist Economics examines such issues as the inequality of the distribution of wealth and its impact on social stability, corrupt financial institutions and economic efficiency. Chapters covering industrial organization, unemployment, international trade, prices, remuneration, taxation and insurance, and local and national government form the main part of the book.
Categories: Business & Economics