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《货币的购买力》第六章第三节

时间:2017-12-27 17:25来源:未知 作者:一品梅 点击:
The stock of bullion is not the ultimate outside influence on the quantity of money. As the stock of bullion and the stock of money influence each other, so the total stock of both is influenced by production and consumption. The production
The stock of bullion is not the ultimate outside influence on the quantity of money. As the stock of bullion and the stock of money influence each other, so the total stock of both is influenced by production and consumption. The production of gold consists of the output of the mines, which constantly tends to add to the existing stocks both of bullion and coin. The consumption of gold consists of the use of bullion in the arts by being wrought up into jewelry, gilding, etc., and of losses by abrasion, shipwreck, etc. If we consider the amount of gold coin and bullion as contained in a reservoir, production would be the inflow from the mines, and consumption the outflow to the arts and by destruction and loss. To the inflow from the mines should be added the reinflow from forms of art into which gold had previously been wrought, but which have grown obsolete. This is illustrated by the business of producing gold bullion by burning gold picture frames.
黄金的存量不是货币数量的最终外部影响。 由于黄金存量和货币存量相互影响,所以两者的总存量都受到生产和消费的影响。 黄金的生产由矿山的产量构成,这往往会增加黄金和硬币的现有存量。 黄金的消耗包括艺术中使用金银珠宝,烫金等,以及由磨损,沉船等造成的损失。如果我们考虑一个水库中所包含的金币和黄金的数量 ,生产将是矿山的流入,消耗流出的艺术和破坏和损失。 对于矿山的流入,应该增加从先前已经形成了黄金但已经过时的艺术形式的回流。 这是通过燃烧黄金相框生产金条的业务说明的。

We shall consider first the inflow or production, and afterward the outflow or consumption. The regulator of the inflow (which practically means the production of gold from the mines) is its estimated "marginal cost of production."
首先考虑流入或生产,然后考虑流出或消费。 流入的调节者(实际上是指从矿山生产黄金)是其估计的“边际生产成本”。

Mining is a hazardous business and estimates are subject to great error. But however erroneous the estimated cost, it exerts a regulatory power over production. Wherever the estimated cost of producing a dollar of gold is less than the existing value of a dollar in gold, it will normally be produced. Wherever the cost of production exceeds the existing value of a dollar, gold will normally not be produced. In the former case the production of gold is profitable; in the latter it is unprofitable. There will be an intermediate or neutral point at which normally profitable production ceases and unprofitable production begins, a point at which the cost of producing $100 will be exactly $100. The cost at this point is called the marginal cost of production. At the richest mines, the cost of production is extremely small. From this low standard the cost gradually rises at other mines, until the marginal mine is reached, at which the cost will normally be equal to the value of the product. In fact, there exists a marginal point of production, not only as among different mines, but for each mine individually. The fact that cost tends in general to increase with increased product is due to the fact that gold is an extractive industry. It is subject to the law of increasing cost, or, as it is often expressed, "the law of decreasing returns." If a mine is only moderately worked, the cost of production per ounce of gold will be less than if it is worked at more nearly its full capacity, and there will always be a rate of working such that the cost per ounce of any extension in that rate of working will make the extension barely profitable. It will pay to extend production to the point where the additional return is just equal to the consequent additional cost, but no further. The mine operator may unintentionally or temporarily overshoot the mark or fall within it, but such errors will only stimulate him to correct them; and gold production will always tend toward an equilibrium in which the marginal cost of production will (when interest is added) be equal to the value of the product.
采矿是一个危险的业务,估计是很大的错误。但是,无论估计的成本是错误的,它都会对生产施加监管权力。无论生产一美元黄金的估算成本低于一美元黄金现有价值,通常都会生产。在生产成本超过一美元现有价值的地方,通常不会生产黄金。在前一种情况下,黄金的生产是有利可图的;在后者是无利可图的。将有一个中间或中性点,在这个点上,通常有利可图的生产停止,无利可图的生产开始,生产100美元的成本正好是100美元。此时的成本被称为边际生产成本。在最富有的矿山,生产成本是非常小的。从这个低标准开始,其他矿山的成本逐渐上升,直到达到边际矿山,成本通常等于产品的价值。实际上,不仅在不同的矿山之间,而且在每个矿山都有一个边际生产点。黄金是一个采掘业,因为成本往往会随着产品的增加而增加。这是受成本增加的规律的影响,或者正如经常表达的“收益递减规律”一样。如果一个煤矿只有适度的工作,每盎司黄金的生产成本将低于如果以更接近满负荷的工作量生产的成本,那么总是有一个工作的速度,使每盎司的扩展成本那工作的速度将使得延长几乎没有利润。它将支付延长生产的额外收益等于相应的额外成本,但没有进一步的。矿工可能无意或暂时超越标志或落入标志内,但这样的错误只会刺激他纠正;黄金生产总是倾向于一个平衡点,在这个平衡点上,边际生产成本(当加入利息时)等于产品的价值。

This holds true in whatever way cost of production is measured, whether in terms of gold itself, or in terms of some other commodity such as wheat, or of commodities in general, or of any supposed "absolute" standard of value. In gold-standard countries gold miners do actually reckon the cost of producing gold in terms of gold. From their standpoint it is a needless complication to translate the cost of production and the value of the product into some other standard than gold. They are interested in the relation between the two, and this relation will not be affected by the standard.
无论以何种方式衡量生产成本,无论是以黄金本身,还是以其他商品如小麦,一般商品或任何所谓的“绝对”的价值标准来衡量。 在黄金标准的国家,黄金矿工实际上确定黄金生产的成本。 从他们的观点来看,将生产成本和产品价值转化为其他标准而不是黄金是不必要的复杂性。 他们对两者之间的关系感兴趣,这种关系不会受到标准的影响。

To translate the cost and value from gold money into wheat, it is only necessary to divide both cost and value by the price of wheat in gold money. Such a change in the method of expressing both cost and value will not affect their relation to each other.
为了将金钱的成本和价值转化为小麦,只需要用金钱把小麦的价格和价值分割开来。 表达成本和价值的方法的这种变化不会影响它们之间的相互关系。

To illustrate how the producer of gold measures everything in terms of gold, suppose that the price level rises. Assuming that the rise of prices applies to wages, machinery, fuel, and the other expenses of producing gold, he will then have to pay more dollars for wages, machinery, fuel, etc., while the prices obtained for his product (expressed in those same dollars) will, as always, remain unchanged. Conversely, a fall in the level will lower his cost of production (measured in dollars), while the price of his product will still remain the same.64 Thus we have a constant number expressing the price of gold product and a variable number expressing its cost of production.
为了说明黄金生产者如何衡量黄金的一切,假设价格水平上升。 假定价格上涨适用于工资,机械,燃料和生产黄金的其他费用,那么他将不得不支付更多的工资,机械,燃料等的美元,而他的产品的价格(以 那些相同的美元)将一如既往地保持不变。 相反,如果下降,他的生产成本将降低(以美元计算),而他的产品价格仍然保持不变.64因此,我们有一个表示黄金产品价格的不变数字, 生产成本。

If we express the same phenomena, not in terms of gold, but in terms of wheat, or rather, let us say, in terms of goods in general, we shall have the opposite conditions. When prices rise, the purchasing power of money falls, and this purchasing power is the value of the product expressed in terms of goods in general. If the mining costs change with the general price movement, there will not occur any change in the cost of producing gold relatively to goods. There will, however, be a change in the value of the gold product. That is, we shall then have a variable number expressing the price of the gold product and a constant number expressing its cost of production.
如果我们表达同样的现象,不是用黄金来表示,而是用小麦来表示,或者说,就一般情况而言,我们将会有相反的情况。 当价格上涨时,货币的购买力下降,这个购买力就是一般货物的价值。 如果采矿成本随着一般价格变动而变化,则相对于商品生产黄金的成本不会发生任何变化。 但是,黄金产品的价值会发生变化。 也就是说,我们将有一个表示黄金产品价格的可变数字和一个表示其生产成本的常数。

Thus the comparison between price and cost of production is the same, whether we use gold or other commodities as our criterion. In the one view—i.e. when prices are measured in gold—a rise of prices means a rise in the gold miner's cost of production; in the other view—i.e. when prices are measured in other goods—the same rise in prices means a fall in the price (purchasing power) of his product. In either view he will be discouraged. He will look at his troubles in the former light, i.e. as a rise in the cost of production; but we shall find it more useful to look at them in the latter, i.e. as a fall in the purchasing power of the product. In either case the comparison is between the cost of the production of gold and the purchasing power of gold. If this purchasing power is above the cost of production in any particular mine, it will pay to work that mine. If the purchasing power of gold is lower than the cost of production of any particular mine, it will not pay to work that mine. Thus the production of gold increases or decreases with an increase or decrease in the purchasing power of gold.
因此,价格与生产成本的比较是一样的,不管我们用黄金还是其他商品作为我们的标准。在一个观点中,即当以黄金来衡量价格时,价格上涨意味着黄金矿商的生产成本上升;在另一种观点,即当其他商品的价格被测量时,同样的价格上涨意味着他的产品的价格(购买力)下降。不管怎样,他都会感到灰心。他将从前者的角度来看待他的麻烦,即生产成本上升;但是在后者看来,我们会发现它更有用,也就是说产品的购买力下降了。无论哪种情况,都是在黄金生产成本与黄金购买力之间进行比较。如果这个购买力高于任何一个特定矿山的生产成本,它将支付我的工作。如果黄金的购买力低于任何一个特定矿山的生产成本,那么这个矿山就不会付出代价。因此,随着黄金购买力的增加或减少,黄金的产量会增加或减少。

So much for the inflow of gold and the conditions regulating it. We turn next to outflow or consumption of gold. This has two forms, viz. consumption in the arts and consumption for monetary purposes.
黄金的流入和调控的条件如此之多。 我们转向旁边的黄金流出或消费。 这有两种形式,即。 艺术消费和货币消费。

First we consider its consumption in the arts. If objects made of gold are cheap—that is, if the prices of other objects are relatively high—then the relative cheapness of the gold objects will lead to an increase in their use and consumption. Expressing the matter in terms of money prices, when prices of everything else are higher and people's incomes are likewise higher, while gold watches and gold ornaments generally remain at their old prices, people will use and consume more gold watches and ornaments.
首先我们考虑它在艺术上的消费。 如果用黄金制造的物品便宜 - 也就是说,如果其他物品的价格相对较高,那么黄金物品的相对便宜将导致其用量和消费量的增加。 用货币价格来表示,一切价格高,人民收入也高,而金表和金饰一般都保持旧价,人们就会使用和消费更多的金表和饰品。

These are instances of the consumption of gold in the form of commodities. The consumption and loss of gold as coin is a matter of abrasion, of loss by shipwreck and other accidents. It changes with the changes in the amount of gold in use and in its rapidity of exchange. The outlets from this reservoir represent the consumption of gold coins by loss. Just as production is regulated by marginal cost of what is produced, so is consumption regulated by marginal utility of what is consumed. This is not the place to enter into a discussion of the essential symmetry between these two marginal magnitudes, a symmetry often lost sight of because cost is usually measured objectively and utility subjectively. Both are measurable in either way. The subjective method is the more fundamental, but takes us farther away from our present discussion than is necessary or profitable.
这些是以商品形式消费黄金的例子。 黄金作为硬币的消耗和损失是磨损,沉船等事故造成的损失。 它随着黄金使用量的变化和交易的快速而变化。 这个水库的出口代表了亏损的金币消耗。 正如生产是由所生产的边际成本所调节的那样,消费的边际效用所调节的消费也是如此。 这不是讨论这两个边际量之间基本对称性的地方,对称性经常被忽视,因为成本通常是主观地客观衡量和实用的。 两者都是可以测量的。 主观方法更为根本,但是使我们离现在的讨论远远超出必要或有利可图。

We see then that the consumption of gold is stimulated by a fall in the value (purchasing power) of gold, while the production of gold is decreased. The purchasing power of money, being thus played upon by the opposing forces of production and consumption, is driven up or down as the case may be.65
我们看到,黄金的消费受到黄金价值(购买力)的下降的刺激,而黄金的生产则下降了。 生产和消费的对立力量所发挥的货币购买力,视情况而定上涨或下跌。65 (责任编辑:一品梅)
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