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To be directed mainly on money; the second - that, when it
Occurs, it is impossible to use work for increase in production of money, and
The third - that during any moment it is impossible to improve matters, having taken advantage
Any other factor capable if it is cheap enough to execute
Functions of money so well. A unique exit - except changes in
Marginal efficiency of the capital - can consist (while propensity to
To liquidity remains to a constant) in increase in quantity of money or - that
Formally same - in increase of value of money that will allow the given
To quantity of money to serve it volume of monetary operations. Thus,
Increase of norm of percent on money hinders issue of all subjects,
Which production is elastic, being thus not in a condition to stimulate
Creating money (which production, on our hypothesis, absolutely
All other goods, detains investments into production of these goods, not
Being it is capable to promote investment in production of money, which,
According to a hypothesis, cannot be made. Moreover, in force
Elasticity of demand for a liquid cash in the form of promissory notes
Little change in the conditions defining this demand, is not capable
Considerably to change norm of percent to money. At the same time (keeping in
It is absolutely improbable that "natural forces" will lower norm of percent,
Influencing from outside offers. In case of the usual goods
To changes on the demand party fast to raise or lower norm of percent on
It whereas elasticity of its offer too would promote
To the prevention of reception of the high award for immediate delivery in comparison
With delivery "long-term". Thus, if other goods were
Are granted to itself, "natural forces", i.e. The ordinary
Market forces, would lower their norm of percent until approach
Without an exception which we postulated as normal property of money.
So, in the absence of money and in the absence of any other goods with
Properties of money (we should admit, of course, and it) norms of percent
Would reach balance only in case of a full employment.
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