The Credit Mechanism and its Implications

Maurice Allais

Chapter 18 in Arrow and the Foundations of the Theory of Economic Policy, 1987, pp 491-561 from Palgrave Macmillan

Abstract: 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.

Keywords: Time Deposit; Banking System; Federal Reserve; Money Supply; Cash Holding (search for similar items in EconPapers)
Date: 1987
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DOI: 10.1007/978-1-349-07357-3_19

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