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Excerpt from Economics: Lesson 9
In business, _a creditor does not usually extend credit unless he is satisfied of a debtor's ability to pay, or unless he has some security other than the latter's mere word. A bank when making a loan usually insists that the loan shall be used for what we call reproductive purposes. As the celebrated French economist, Leroy Beaulieu, says: Credit should not be a simple anticipation upon future and nu certain wealth; it should have for-its basis a thing real and actual - goods which are finished and which have not been sold; goods which, having been sold, have not yet been paid for; goods oven, which are in process of manufacture, and of which all the elements have been gotten together; an enterprise which is not terminated but which is alread;r in a certain degree of advancement.
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Economics: Lesson 9 (Classic Reprint)
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Paperback. Condizione: New. Print on Demand. This book is a detailed examination of how economies work, with a special emphasis on the crucial role that credit plays in economic growth. The author, an acclaimed expert in monetary policy, explains how our present-day system of banking evolved and how it manages to regulate money supply and keep economies stable. The book also explores the evolution of currency, explaining how banknotes came to be accepted as a medium of exchange. While the author provides an in-depth look at monetary systems, the ideas and themes are accessible to readers without an economics background. The book demonstrates how the circulation and availability of credit drive economic activity, but also how it can cause a downturn. Ultimately, the book provides a nuanced understanding of the interdependence between banking, credit, and the health of any economy. This book is a reproduction of an important historical work, digitally reconstructed using state-of-the-art technology to preserve the original format. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in the book. print-on-demand item. Codice articolo 9781334424175_0
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Economics Lesson 9 Classic Reprint
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