A Theory of Money, Prices, and the Rate of Interest. Part III. The Rate of Interest on Fiat Money in a Closed Economy.

A Theory of Money, Prices, and the Rate of Interest. Part III. The Rate of Interest on Fiat Money in a Closed Economy.

Regular price $23.00 $18.40 Sale

In a well-controlled, competitive monetary economy with no uncertainty, there are no idle cash balances--they are needed for current transactions or are loaned. The presence of uncertainty calls for the holding of cash. In a trading economy with pe...