·:- .. .. ,.~ .. , -·~
raising of wages by trade-unions, other prices would have to be raised
also; but to offset the lowering of wages by industrial monopoly (and
monopsony), other vrices would have to be lowered. Thus monetary
policy is actually on the horns of the dilemma , since no price-level
policy can satisfy both requirements. .
The remaining chapters on the "IndifTerence Field of Monetary
Equilibrium" and on "Monetar...
1558_Review of L'Utilite marginale by Carl. Menger.pdf