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The chapter XIII. What is "value of money"?
"Stable value of money"
Criteria of a choice
Efficiency of the account - again a determinative
The wholesale commodity prices as the standard of value for currencies in the international
Approaching to a problem from purely scientific point of view, it is possible to notice that the such
The phenomena as absolutely stable value does not exist, neither for money, nor for
Something else. Value is the relation, factor of equivalence,
Or, as U.S.Dzhevons, "an indirect way of expression of a proportion"
Jevons, Money and the Mechanism of Exchange, Kegan Paul, London, 1875, the river 11;
cit. In the same place, p. 68 "simply expresses Value variable inherently
The relation in which two goods, so it the bases exchange
To assume that any thing two days running saves one it the same
Value. "> which can be established only having defined that quantity of one
Object which is estimated as equal to "equivalent" quantity of another
Object. Two objects can have constant relative value in terms
Each other, however the statement that value something has not changed,
It is deprived sense if thus it is not concretised, about the relation to what
To other object there is a speech.
When we is habitual, but precipitately we use such expressions as "value
Beer is stabler, than value of a beet "(and it is a maximum of that else has
Any sense), actually we wish to tell that the relative
Value of beer, or its "exchange rate", remains to stabler under the relation
It it is possible to tell about a beet and set of other goods. For the usual goods and
Services we, first of all, mean their relation to money. When we
We apply concept "value" to money, it means that the prices
The majority of the goods do not change mainly in one direction, or
What is the changes will be rather insignificant and short.
"Stable value of money"
However some prices in the free market vary always. We sometimes feel,
That value of money remained approximately at the same level, though many prices
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