By Melchior Palyi

ISBN-10: 1169829422

ISBN-13: 9781169829428

This scarce antiquarian booklet is a facsimile reprint of the unique. as a result of its age, it might comprise imperfections reminiscent of marks, notations, marginalia and incorrect pages. simply because we think this paintings is culturally very important, we've got made it on hand as a part of our dedication for shielding, keeping, and selling the world's literature in cheap, top of the range, glossy versions which are real to the unique paintings.

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Additional resources for A Lesson In French Inflation (1959)

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Whenever that price would rise over 4,000 francs in the Paris open market - the world's greatest market for gold coins and (smuggled) ''kilobars'' - the creditor would receive proportionately more francs. Ever since, the price of a Napoleon has stayed just slightly above 3,600 francs. The French Treasury mints them and throws them on the market in order to keep down the price even when the prices of other gold coins go up. Incidentally, indices of the price level have a life span of approximately 5 to 10 years; after that they become worthless because of changes in the "basket" of goods which enter into the calculation.

Tion Gas Cos. Mer- Colo- French Misc. chan· nial Indus· 9 Elec· Indus- dis· Enter· tries tric tries ing prises Abroad 10 3 5 100 100 98 182 107 57 99 216 126 233 59 85 182 87 84 201 72 96 186 89 84 101 282 109 143 284 136 482 76 94 286 142 186 345 215 169 442 61 79 193 134 182 344 266 1926 213 442 72 97 217 157 208 229 235 525 332 1927 257 424 105 123 124 151 352 411 213 332 313 524 262 342 240 281 574 1928 480 861 321 392 1929 1930 523 986 169 1931 125 159 137 693 673 535 295 706 369 366 618 285 617 169 .

The latter also provides funds for the expansion of private industrial capacity as well as for schools and the corruptionridden public housing. The projected 1959 deficit of 587 billion francs, approximately 8 per cent of the budget, is the fiscal expression of the Keynesian misconception, still prevalent in France, that the growth of basic production cannot be left to the "vagaries" of the profit motive . As a matter of fact, capital investments (constructions of all sorts) appear in the current budget with a hefty 1,470 billion francs, 26 per cent above last year; they constitute almost one-fourth of total expenditures.

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A Lesson In French Inflation (1959) by Melchior Palyi


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