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Arrow and the Foundations of the Theory of Economic Policy pp 491–561Cite as

Palgrave Macmillan

The Credit Mechanism and its Implications

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Abstract

The more that is issued of a mixed currency, the more will be wanted. The supply does not satisfy the demand: it excites it. Like an unnatural stimulus taken into the human system, it creates an increasing desire for more; and the more it is gratified, the more insatiable are its cravings.

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Authors
  1. Maurice Allais
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Editor information

Editors and Affiliations

  1. University of Tennessee, USA

    George R. Feiwel (Alumni Distinguished Service Professor and Professor of Economics) (Alumni Distinguished Service Professor and Professor of Economics)

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© 1987 George R. Feiwel

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Allais, M. (1987). The Credit Mechanism and its Implications. In: Feiwel, G.R. (eds) Arrow and the Foundations of the Theory of Economic Policy. Palgrave Macmillan, London. https://doi.org/10.1007/978-1-349-07357-3_19

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