FRINK Linked Data Fragments server

Matches in SemOpenAlex for { <https://semopenalex.org/work/W2324224340> ?p ?o ?g. }

• W2324224340 endingPage "167" @default.
• W2324224340 startingPage "167" @default.
• W2324224340 abstract "IN its simplest terms, a cheap money policy is a policy of driving down, or preventing a rise in, interest rates by increasing the quantity of money. The effects of an increase in the quantity of money are not always the same. They depend mainly on two things: first, the point in the system where the money is injected; and second, the state of business confidence ruling at the time. Money is parted with mainly for two purposes-spending and lending (under lending is included the purchase of variable dividend securities), and we can classify money held into two categories according to the use to which it is intended to put it-money-to-spend and money-to-lend. Now if we increase money-to-spend-if, for instance, each of us one morning found an official envelope on our breakfast plates containing ten one-pound notes, with a polite letter from the Government asking us to buy ourselves a present with it--the result will be a rapid increase in demand for goods and services. If there is widespread unemployment of resources at the time, this will normally lead to an increase in output with little or no rise in prices, and probably to an increased demand for capital to finance the increase in output and a tendency for interest rates to rise. Only if business confidence is at a very low ebb indeed will the shopkeepers or others whose stocks are depleted by the increase in demand use their extra receipts for repaying debts instead of buying new supplies, so that their creditors, in seeking new channels for investing the money repaid, will tend to force down the rate of interest. If, on the other hand, resources are already fully employed, the increased demand will merely cause a rise in prices and, unless interest rates are raised sharply or other measures are taken to check it, will start or intensify a monetary inflation. In contrast to this, when money-to-lend is injected into the system its immediate effect will be to reduce interest rates. Where business confidence is low, it may be a long time before the lower rates of interest encourage increased borrowing for expenditure on additional capital goods, and interest rates can be forced down a long way before any large part of the new money becomes money-to-spend. When, however, business confidence is high, the new money will be quickly borrowed and spent, with a resultant increase in output if there are many unemployed resources and an increase in prices if there are not. In conditions of very high business confidence, it is possible that an increase in the supply of money-to-lend may very quickly induce a more than proportionate increase in the demand for it, and, if full employment has been reached, may generate a runaway inflation just as certainly and almost as quickly as an increase in money-to-spend." @default.
• W2324224340 created "2016-06-24" @default.
• W2324224340 creator A5020241752 @default.
• W2324224340 date "1947-08-01" @default.
• W2324224340 modified "2023-09-24" @default.
• W2324224340 title "Cheap Money Policy" @default.
• W2324224340 doi "https://doi.org/10.2307/2549786" @default.
• W2324224340 hasPublicationYear "1947" @default.
• W2324224340 type Work @default.
• W2324224340 sameAs 2324224340 @default.
• W2324224340 citedByCount "5" @default.
• W2324224340 countsByYear W23242243402018 @default.
• W2324224340 countsByYear W23242243402019 @default.
• W2324224340 crossrefType "journal-article" @default.
• W2324224340 hasAuthorship W2324224340A5020241752 @default.
• W2324224340 hasConcept C144133560 @default.
• W2324224340 hasConcept C162324750 @default.
• W2324224340 hasConcept C556758197 @default.
• W2324224340 hasConceptScore W2324224340C144133560 @default.
• W2324224340 hasConceptScore W2324224340C162324750 @default.
• W2324224340 hasConceptScore W2324224340C556758197 @default.
• W2324224340 hasIssue "55" @default.
• W2324224340 hasLocation W23242243401 @default.
• W2324224340 hasOpenAccess W2324224340 @default.
• W2324224340 hasPrimaryLocation W23242243401 @default.
• W2324224340 hasRelatedWork W1541807514 @default.
• W2324224340 hasRelatedWork W2009849666 @default.
• W2324224340 hasRelatedWork W2034170613 @default.
• W2324224340 hasRelatedWork W2108954098 @default.
• W2324224340 hasRelatedWork W2111348078 @default.
• W2324224340 hasRelatedWork W2282046754 @default.
• W2324224340 hasRelatedWork W2395832294 @default.
• W2324224340 hasRelatedWork W2767853895 @default.
• W2324224340 hasRelatedWork W2778542558 @default.
• W2324224340 hasRelatedWork W4255972572 @default.
• W2324224340 hasVolume "14" @default.
• W2324224340 isParatext "false" @default.
• W2324224340 isRetracted "false" @default.
• W2324224340 magId "2324224340" @default.
• W2324224340 workType "article" @default.