money-rate

The fact that workpeople in fact stipulate, not for a real rate of wages, but for a money-rate, is not ignored; but, in effect, it is assumed that the actual money-rate of wages divided by the price of wage-goods can be taken to measure the real rate demanded.

The General Theory of Employment, Interest, and Money 2003

So far, therefore, the money-rate of interest has no uniqueness compared with other rates of interest, but is on precisely the same footing.

The General Theory of Employment, Interest, and Money 2003

To the extent that the established standard of value has these peculiarities, the summary statement, that it is the money-rate of interest which is the significant rate of interest, will hold good.

The General Theory of Employment, Interest, and Money 2003

The fact that money has low elasticities of production and substitution and low carrying-costs tends to raise the expectation that money-wages will be relatively stable; and this expectation enhances money's liquidity-premium and prevents the exceptional correlation between the money-rate of interest and the marginal efficiencies of other assets which might, if it could exist, rob the money-rate of interest of its sting.

The General Theory of Employment, Interest, and Money 2003

In attributing, therefore, a peculiar significance to the money-rate of interest, we have been tacitly assuming that the kind of money to which we are accustomed has some special characteristics which lead to its own-rate of interest in terms of itself as standard being more reluctant to fall as the stock of assets in general increases than the own-rates of interest of any other assets in terms of themselves.

The General Theory of Employment, Interest, and Money 2003

The money-rate of interest, by setting the pace for all the other commodity-rates of interest, holds back investment in the production of these other commodities without being capable of stimulating investment for the production of money, which by hypothesis cannot be produced.

The General Theory of Employment, Interest, and Money 2003

He argues that the growth of real capital is held back by the money-rate of interest, and that if this brake were removed the growth of real capital would be, in the modern world, so rapid that a zero money-rate of interest would probably be justified, not indeed forthwith, but within a comparatively short period of time.

The General Theory of Employment, Interest, and Money 2003

Let us suppose that the spot price of wheat is £100 per 100 quarters, that the price of the 'future' contract for wheat for delivery a year hence is £107 per 100 quarters, and that the money-rate of interest is 5 per cent; what is the wheat-rate of interest?

The General Theory of Employment, Interest, and Money 2003

If by money we mean the standard of value, it is clear that it is not necessarily the money-rate of interest which makes the trouble.

The General Theory of Employment, Interest, and Money 2003

Thus a rise in the money-rate of interest retards the output of all the objects of which the production is elastic without being capable of stimulating the output of money (the production of which is, by hypothesis, perfectly inelastic).

The General Theory of Employment, Interest, and Money 2003