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Effectively to protect short-term stability of own currency. Business should go to a certain extent forecasts of future dynamics Values of other currencies.The chapter XII. What sort of currency will be selected by republic?
Four ways of use of money: 1) Purchases for cash 2) Creation of reserves for the future payments 3) the Standard for the delayed payments 4) Reliable it unit
Above I have put forward the thesis that public will choose from a number of the competing
Private currencies such which will appear better governmental. Now to us
It is necessary to investigate process of selection and criteria on which it will be
To be made. It is a question on which we have rather poor empirical knowledge. Will not help to respond to it and polls: without having visited never
In such situation, the majority of people never thought of it and have not developed
The plan of own behaviour in similar conditions. We can try simply
To track, what probable character of individual decisions will be, starting with
General idea about the purposes for the sake of which people wish to have money, and about that,
As they operate in similar situations. Eventually, such way was
The most part of the economic theory is created and conclusions, as a rule, are drawn
Proved to be true subsequently. Certainly, we should not expect that people,
It having appeared in a new situation, at once begin to operate rationally. However
They will very soon find out, what behaviour more all is equitable to their interests,
If not thanks to the insight, that, studying as a private experience, or
Imitating the most successful.
The Free Press, Glencoe, III, 1950, the river 261: "For people there is no the best way
To become more educated as regards the economic interests, than, Observing of economic successes of those who applies correct means for Achievements of the purposes ".> Serious change, such as we consider
Here, can create the big uncertainty and mess in the beginning. However I not
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