[Modern Economic Problems by Frank Albert Fetter]@TWC D-Link book
Modern Economic Problems

CHAPTER 4
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In the light of the principles of diminishing gratification and of time-preference it is clear that the amounts in which, and the times at which, goods are available have an essential bearing on their values.

Money is the most successful device ever discovered for distributing the supplies of a journey along its course, and the goods of daily need over a period of time.

The use of money as a storehouse of value by hoarding it is merely a more extreme case of keeping income until a time when it will have a greater value to the owner than it has in the present.[1] Sec.4.

#Relative importance of money.# Because money is the general expression of purchasing power, and comes to symbolize all other wealth, it often assumes undue and exaggerated importance in men's eyes.

Money is but one of many forms of wealth.


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