The Standard of Value

A. E. Monroe

The Quarterly Journal of Economics, 1932, vol. 46, issue 2, 251-280

Abstract: Introduction: doubts concerning stabilization of prices, 251. — Purchasing power reducible to labor, 254; with certain qualifications, 256. — The nature of monetary instability, 259. — Bad effects of it, 260. — True stability eliminates these, 263. — Basic labor standard superior to others in this respect, 265. — The debtor-creditor problem, 266. — No allowance for subjective side of labor, 267; or for changes in efficiency, 268. — The problem of detection, 269; of measurement, 274. — Practical considerations: production data alone an inadequate guide, 275; mild inflation easier to attain than stability, 277; corrective measures not always advisable, 279.

Date: 1932
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