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Thus, the indicated four conditions taken together, are sufficient forExplanations of the most remarkable lines of our real experience, namely that
We are in an oscillative motion (avoiding at the same time
Catastrophic deviations of employment and the prices in both directions) around
Intermediate position there is less than full employment and it is significant
Above minimum employment falling below which would pose threat for Lives.
But we should not do from here a conclusion that this average position, Following from "a natural" course of things, namely from those tendencies, Which, possibly, will continue to act in the absence of measures, Specially intended for their correction, is valid the law Necessities. Unobstructed domination of these conditions is observed The fact representing the world what it is or what it was, and at all Inevitable principle which cannot be changed.
THE BOOK THE FIFTH
MONETARY WAGES AND THE PRICES
Changes in monetary wages
It would be in some respects better, if the effect made Changes in monetary wages, it would be considered by us in one of Previous heads. After all classical it* has got used to connect The assumption of ostensibly self-regulated character of our economic Systems with mobility of monetary wages or, if the monetary The wages differ inflexibility to lay blame for the bad Self-adjustability on this inflexibility.
It was impossible to disassemble comprehensively, however, this question, until then
While we have not developed the own theory. Consequences of changes in To monetary wages are rather difficult. Under certain conditions Reduction of monetary wages is quite capable to give stimulus to To production expansion as it is assumed by the classical theory. I
I disperse from this theory mainly in an analysis method, and this divergence
Could not be distinctly shown until the reader has not familiarised with My own method.
The standard explanation as I understand it, extremely simply. It not
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