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- . About absence of changes in psychological propensities and assumptions (But not what follow from changes in quantity of money), the theory - it is lawful in the sense that at the given assumptions exists Only one norm of percent which is compatible to a full employment for The long period. It and its successors have seen that fact, what even
In the long-term period employment not necessarily aspires to level of the complete
Employment that the occupation level can be changed and that by each separate
To the bank policy there corresponds an occupation level different from others.
Thus, there are many conditions of long-term balance,
Corresponding to various conceivable variants of a percentage policy of body,
Regulating a monetary system.
If Rikardo was content with submission of the argument as
Concerning only to the known, in advance set quantity of money,
Manufactured by body which regulates a monetary system, it would remain
Correct at an assumption of flexible monetary wages. That is, if
- proved that irrespective of, whether the quantity of money is fixed
The body regulating a monetary system, at level of 10 million or 1 100 million,
It will not render long effect on norm of percent then its conclusion was
It is true. But if under a policy of the monetary body regulating the monetary
System to understand conditions by which it increases or reduces
Quantity of money, i.e. Norm of percent proceeding from which it will be
To increase or reduce the assets by change in volume of the considered
Bills or by open market operations (namely it is Rikardo,
Abundantly clear, also means in the above-stated citation), then at all
It is not obligatory, that this policy would not render any influence. It not
Would mean also that one is compatible to long-term balance only
Variant of a monetary policy. However, in a limiting case, i.e. At
The assumption that the monetary wages can fall beyond all bounds
Before the fact - an involuntary unemployment as a result of vain searches of work
The unemployed competing among themselves then really would exist
Only two possible long-term conditions - a full employment and level
The employment, corresponding to norm of percent, at which preference
Liquidities becomes absolute (if this level less, than complete
Employment). Under condition of flexible monetary wages quantity of money
As that really does not render any long-term influence. But
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