The Stability of the Purchasing Power of Money

Paul Davidson

Chapter 8 in International Money and the Real World, 1982, pp 146-166 from Palgrave Macmillan

Abstract: Abstract Production in entrepreneurial market-oriented economies is always organized on a forward-money contractual basis. The efficient planning of time-consuming mass production processes by entrepreneurs, in a world where slavery and peonage are illegal, requires contractual commitments for the hire-purchase of inputs before the production activity is undertaken. Such contracts not only ensure regular (non-casual) employment and fair treatment of labour over time,1 but they also provide entrepreneurs with the necessary controls over factor services and costs, thereby limiting the money liabilities involved in undertaking any planned production activities.

Keywords: Profit Margin; Spot Price; Unit Labour Cost; Spot Prex; Market Basket (search for similar items in EconPapers)
Date: 1982
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
Chapter: The Stability of the Purchasing Power of Money (1992)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-16679-4_8

Ordering information: This item can be ordered from
http://www.palgrave.com/9781349166794

DOI: 10.1007/978-1-349-16679-4_8

Access Statistics for this chapter

More chapters in Palgrave Macmillan Books from Palgrave Macmillan
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().