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The Value of Money
img img The Value of Money img Chapter 41 No.41
41 Chapters
Chapter 1 ECONOMIC VALUE
Chapter 2 SUPPLY AND DEMAND, AND THE VALUE OF MONEY
Chapter 3 COST OF PRODUCTION AND THE VALUE OF MONEY
Chapter 4 THE CAPITALIZATION THEORY AND THE VALUE OF MONEY
Chapter 5 MARGINAL UTILITY AND THE VALUE OF MONEY
Chapter 6 THE QUANTITY THEORY OF PRICES. INTRODUCTION
Chapter 7 DODO-BONES
Chapter 8 THE EQUATION OF EXCHANGE
Chapter 9 THE VOLUME OF MONEY AND THE VOLUME OF CREDIT
Chapter 10 NORMAL VS. TRANSITIONAL TENDENCIES
Chapter 11 BARTER
Chapter 12 VELOCITY OF CIRCULATION
Chapter 13 THE VOLUME OF MONEY AND THE VOLUME OF TRADE-TRADE AND SPECULATION
Chapter 14 THE VOLUME OF TRADE AND THE VOLUME OF MONEY AND CREDIT
Chapter 15 THE QUANTITY THEORY THE PASSIVENESS OF PRICES
Chapter 16 THE QUANTITY THEORY AND INTERNATIONAL GOLD MOVEMENTS
Chapter 17 No.17
Chapter 18 THE QUANTITY THEORY AND WORLD PRICES
Chapter 19 STATISTICAL DEMONSTRATIONS OF THE QUANTITY THEORY-THE REDISCOVERY OF A BURIED CITY
Chapter 20 RECAPITULATION OF POSITIVE DOCTRINE
Chapter 21 THE ORIGIN OF MONEY, AND THE VALUE OF GOLD
Chapter 22 THE FUNCTIONS OF MONEY AND THE VALUE OF MONEY
Chapter 23 CREDIT
Chapter 24 CREDIT-BANK ASSETS AND BANK RESERVES
Chapter 25 ECONOMIC VALUE No.25
Chapter 26 SUPPLY AND DEMAND, AND THE VALUE OF MONEY No.26
Chapter 27 COST OF PRODUCTION AND THE VALUE OF MONEY No.27
Chapter 28 THE CAPITALIZATION THEORY AND THE VALUE OF MONEY No.28
Chapter 29 MARGINAL UTILITY AND THE VALUE OF MONEY No.29
Chapter 30 THE QUANTITY THEORY OF PRICES. INTRODUCTION No.30
Chapter 31 DODO-BONES No.31
Chapter 32 THE EQUATION OF EXCHANGE No.32
Chapter 33 THE VOLUME OF MONEY AND THE VOLUME OF CREDIT No.33
Chapter 34 NORMAL VS. TRANSITIONAL TENDENCIES No.34
Chapter 35 BARTER No.35
Chapter 36 VELOCITY OF CIRCULATION No.36
Chapter 37 THE VOLUME OF MONEY AND THE VOLUME OF TRADE-TRADE AND SPECULATION No.37
Chapter 38 THE VOLUME OF TRADE AND THE VOLUME OF MONEY AND CREDIT No.38
Chapter 39 THE QUANTITY THEORY THE PASSIVENESS OF PRICES No.39
Chapter 40 THE QUANTITY THEORY AND INTERNATIONAL GOLD MOVEMENTS No.40
Chapter 41 No.41
Chapter 42 THE QUANTITY THEORY AND WORLD PRICES No.42
Chapter 43 STATISTICAL DEMONSTRATIONS OF THE QUANTITY THEORY-THE REDISCOVERY OF A BURIED CITY No.43
Chapter 44 RECAPITULATION OF POSITIVE DOCTRINE No.44
Chapter 45 THE ORIGIN OF MONEY, AND THE VALUE OF GOLD No.45
Chapter 46 THE FUNCTIONS OF MONEY AND THE VALUE OF MONEY No.46
Chapter 47 CREDIT No.47
Chapter 48 CREDIT-BANK ASSETS AND BANK RESERVES No.48
Chapter 49 THE RECONCILIATION OF STATICS AND DYNAMICS
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Chapter 41 No.41

THE QUANTITY THEORY vs. GRESHAM'S LAW

There is a pretty obvious conflict between the quantity theory and Gresham's Law. The latter is, essentially, a "quality" theory of money. For the quantity theory, dodo-bones, or anything else will do. "It is the number, and not the weight, that is essential"![361] For Gresham's Law, the weight makes all the

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