A Tract on Monetary Reform: Chapter I - I. Changes in the Value of Money, as affecting Distribution by@jmkeynes
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A Tract on Monetary Reform: Chapter I - I. Changes in the Value of Money, as affecting Distribution

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Of the various purposes which money serves, some essentially depend upon the assumption that its real value is nearly constant over a period of time. The chief of these are those connected, in a wide sense, with contracts for the investment of money. Such contracts—namely, those which provide for the payment of fixed sums of money over a long period of time—are the characteristic of what it is convenient to call the Investment System, as distinct from the property system generally.

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by John Maynard Keynes @jmkeynes.Creator of Keynesian. English economist whose ideas fundamentally changed the theory and practice of macroeconomics
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