Thursday, December 18, 2025

He's telling us (1977)

From the December 1977 issue of the Socialist Standard
Since the quantity of money capable of being absorbed by the circulation is given for a given mean velocity of currency, all that is necessary in order to abstract a given number of sovereigns from the circulation is to throw the same number of pound notes into it, a trick well known to all bankers. 
(Karl Marx, Capital Vol. 1, p. 136, Kerr edition)

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