Part Iii. the Value of Money

CHAPTER XX

RECAPITULATION OF POSITIVE DOCTRINE

Recapitulation of constructive theses of Parts I and II, and program of Parts III and IV 387-396

CHAPTER XXI

THE ORIGIN OF MONEY, AND THE VALUE OF GOLD

Problem stated 397-401

Value vs. saleability: degrees of saleability; theory of saleability; "buying price" vs. "selling price"; indirect exchange in barter economy; development of commodity of superior saleability into money 401-406

Money never unique 406-407

Origin of gold money: ornament; store of value; social prestige of prodigality and of ornament; love of approbation, sex-impulse, and competitive display; elastic value-curve of gold; industrial employments of gold 407-413

Distribution of wealth and power, and value of gold 413-416