Money and the Mechanism of Exchange (Classic Reprint)by W. Stanley Jevons
There is much to be learnt about money before entering upon those abstruse questions, which barely admit of decided answers. In studying a language, we begin with the grammar before we try to read or write. In mathematics, we practice ourselves in simple arithmetic before we proceed to the subtleties of algebra and
Excerpt from Money and the Mechanism of Exchange
There is much to be learnt about money before entering upon those abstruse questions, which barely admit of decided answers. In studying a language, we begin with the grammar before we try to read or write. In mathematics, we practice ourselves in simple arithmetic before we proceed to the subtleties of algebra and the differential calculus. But it is the grave misfortune of the moral and political sciences, as well shown by Mr. Herbert Spencer, in his "Study of Sociology," that they are continually discussed by those who have never laboured at the elementary grammar or the simple arithmetic of the subject. Hence the extraordinary schemes and fallacies every now and then put forth.
Currency is to the science of economy what the squaring of the circle is to geometry, or perpetual motion to mechanics. If there were a writer on Currency possessing some of the humour and learning of the late Professor De Morgan, he could easily produce a Budget of Currency Paradoxes more than rivalling De Morgan's Circle-Squaring Paradoxes.
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