Money must have a pre-existing price on which to ground its demand, but if supply and demand determine the price, how can it be that this demand depends on a pre-existing price? Mises solved this confusing circular trap in 1912 with his regression theorem.
Mostrando entradas con la etiqueta wealth and money. Mostrar todas las entradas
Mostrando entradas con la etiqueta wealth and money. Mostrar todas las entradas
Money must have a pre-existing price on which to ground its demand, but if supply and demand determine the price, how can it be that this demand depends on a pre-existing price? Mises solved this confusing circular trap in 1912 with his regression theorem.
Publicado por
Alejandro Zamorano Escriche
en
13:29
Etiquetas:
Austrian School of Economics and Monetary Theory,
Bretton Woods,
economic effects of inflation,
Ludwig von Mises,
money and economic growth,
regression theorem of money,
Say's Law,
wealth and money
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