Viewing page 39 of 64

This transcription has been completed. Contact us with corrections.

62

in China in old times sometimes had to sell daughters downward - morally neg. conversion downward, but allowable in desp

Smeltzer - mobilizative

if look at Lewis' [[strikethrough]] books [[/strikethrough]] box, see need ranking for redistrib & mobilizative to emerge formal ranked

[[end page]]
[[start page]]

63

3/15 - Money

money only usable for consumer goods if goods or services avail in the econ. as saved productivity of the system 
what the economists mean when talk about GNP

why did everything fall apart in Depression - total amt of goods & services in system will [[strikethrough]] drop [[/strikethrough]] not drop, so why couldn't continue circulating at lower level

Nazi Germany tried to counterfeit Br. pounds & flood market to ruin Br. economy - fake calls for goods & services not there
Dev. aid often brings money in from outside system and can be similarly disruptive 
if fed into system  quickly more troublesome than if fed in slowly 

money not real, but a token of system's productive capacity