The existence of credit improves the velocity of money; indirectly, this contributes to consumption, which aids production. However, we need to systematically study these parameters and various constraints that interract with each other: value, price, credit, fractional reserve, etc.
Imagine an empirical world wherein every buyer has to pay upfront for cars without taking a loan. In such a world, the number of cars being produced depends on the individual savings. In much the same way, having some sort of insurance increases the consumption: when people are asked to pay for medical services, they gotta have savings; when they pay monthly premium, some suepr entity can come to rescue em if need be. Same like financing breast lifting, face lifting, other cosmetic surgeries: in these cases, the benificiaries gotta come with some monthly plan, thanks to credit. If such system doesn't exist, only select few can have face liftings, etc, thereby leading to less cosmeteic surgeons in the field, etc.
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