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Accompanied by any change of a volume of output, will leadTo redistribution of incomes to benefit of the businessman and it the investor, and it
It can be reflected in propensity to consumption. However this process can To begin not only when the full employment is already reached, it will be It is continuous during all that time while costs grow. If the investor The businessman, gradual leak is less inclined to costs, than
Real earnings from hands of the investor will lead to that the full employment will be
It is reached at smaller increase in quantity of money and smaller reduction
Norms of percent, than it would take a place at acceptance of a return hypothesis. After
Full employment achievements the further rise in prices (if to adhere to the first
Hypotheses) will lead to that the norm of percent will a little raise for
Prevention of a boundless rise in prices and the increase in quantity of money will be
Less than to proportionally growth of costs; if to adhere to the second Hypotheses, the result will be opposite. Can happen that with
Reduction of real earnings of the investor there will come the moment, when as a result of them
Progressing relative pauperisation the first hypothesis will give way The second, and it can occur both to, and after full employment achievement.
IV
Visible asymmetry between Inflation can cause some bewilderment and Deflation. While a deflation of effective demand below level, Necessary for a full employment, will reduce as employment, and
The prices, inflation above this level will mention only the prices. However this asymmetry
There is a simple reflexion of that fact that, though hired workers always in
Condition to refuse work in such scale, at which real The wages fall below limiting burden of work at the given To employment size, they not in a condition to require work granting in Scales at which the real wages do not exceed the limiting Burden of work at the given size of employment.
CHAPTER 21
The theory of the prices
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