Monetary Policy as an Instrument of Progress
As production, output and commerce increase in the course of economic development, the supply of money should be increased. The coinage debasements of early modern times, it is suggested by some recent researches, may have answered less to the fiscal requirements of the rising nation states than to the needs of trade for more money.l Fixity in the quantity of money has generally been effectively resisted in periods marked by an economic upsurge. Monetary expansion plays an important role in economic development.
KeywordsDepression Manifold Europe Transportation Income
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