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To effect approximately equivalent to growth on 2 % of the sum of the percent which are subject
To payment for the same period. The same reasons are applicable mutatis mutandis* and
From the told follows that in the modern world with its customs and
Institutes it is more expedient to rigid monetary wage to pursue a policy
Payments, than to the politician of the flexible wages sensitively reacting to each
Change in unemployment volume, at least in that case, when speech
Goes about a marginal efficiency of the capital. But whether this conclusion is denied,
When we address to a question on norm of percent?
Effect of a falling subsistence level and the prices for demand size
On money should stand therefore in the centre of the argument of those who trusts in
Self-regulating character of our economic system though I also did not hear,
That they did it. If the quantity of money itself is level function
Wages and the prices then in this plan to hope there is nothing. But if
The quantity of money is actually fixed, it is obvious that this quantity,
Expressed in terms of wages, can infinitely increase
By means of sufficient reduction of monetary wages. As a rule,
Such way the quantity of money can be considerably increased and rather
The sums of all incomes, and the limit of this increase depends on a share of costs
On wages in limiting primary production costs and from
Reactions of other elements of limiting primary costs to unit falling
Therefore, at least theoretically, we can render on norm
Percent precisely same effect, reducing wages and saving
Quantity of money invariable, as well as increasing quantity of money and saving
Invariable a subsistence level. From this it follows that as a method
Maintenance of a full employment wages reduction is subject to the same
To the restrictions, as increase in quantity of money. The same
The factors mentioned above which limit the valid effect
Increases in quantity of money as method of finishing of investments to the optimum
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