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It would be possible to find the goods meeting these requests, that, undoubtedly,He could be offered as the competitor of money. Thus,
Logically it is impossible to exclude possibilities of existence of such goods, in
Which value of issue would be assumed more stable, than value
Issue in money. However, apparently, it is a little probable, that such goods
Really existed.
From this I conclude that the goods, in transfer on which assumed The wages are considered the most inactive, there can not be goods, Which elasticity of production is not the least and at which Excess of costs of the contents over the award for liquidity also is not
The wages expressed in money, is a natural consequence That excess of the award for liquidity over costs of the contents at money Above, than at any other asset.
Thus, we see that various features, which in Sets strengthen significance of norm of percent on money, cumulatively Interact with one another. That fact that money has the low
Elasticity of production and replacement, and also low costs of the contents,
Promotes increase of probability of the assumption that wages In money will be concerning stable. And this assumption raises the award
For liquidity for money also warns an establishment of strong communication between
Such communication would exist, it could deprive norm of percent on its money
Dangerous force.
At prof. Pigu (along with others) has entered into usage to assume, as if The real wages are more stable, than the nominal wage
Payment. But it would be true only in the event that would be available there is enough
The strong bases to assume that employment is stable. Except That, difficulty that the goods acquired on wages, have High costs of the contents. If attempt actually has been made To stabilise real wages, defining it in the natural form On the basis of the subjects purchased on wages result could
To be only the strongest instability of prices in money. Therefore any insignificant
Change of propensity to consumption and promptings to investment would cause Mad jumps in prices in money from zero indefinitely. That the wage The payment in money should be more stable, than real wages, Represents a condition of the coherence inherent in system.
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