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The Value of Money
img img The Value of Money img Chapter 35 BARTER No.35
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Chapter 35 BARTER No.35

In the statement of the quantity theory, the proviso is commonly made that all exchanges must be made by means of money, or of money and bank-credit. Barter is excluded by hypothesis. If resort to barter were possible, then people might avert the fall in prices due to scarcity of money, or increase in trade, by dispensing with money in part of thei

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