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There would be sizes of investments more low or not below the sizes corresponding to it
To level. Thus, if investments were on the indicated critical
Level the prices would stay in a condition of unstable balance, jumping to
Zero every time when investments would fall below this level, and to
Infinity when they would appear above it. The stability element could
To be supplied (if it in general it is real) only by means of factors,
Money regulating quantity so that always existed
Known level of monetary wages, at which quantity of money
It would be just that, that the necessary parity was established between
Norm of percent and marginal efficiency of the capital, supporting
Investments at critical level. In this case employment would be a constant
(Being at the level corresponding to the statutory real
To wages), and monetary wages and the prices would test the fast
Fluctuations just in such degree which is necessary for volume maintenance
Investments up to the mark. As to the valid state of affairs in
Australia there rescue has been found partly in an inevitable inefficiency
Legislation which could not reach entirely an object in view, and
Partly in that Australia is not the closed system, and consequently for
It level of monetary wages itself has appeared the major factor,
Defined the size foreign, and consequently, and the general investments, into that
Time as has essentially affected real wages a parity of the prices
Between the export and import goods.
In the light of these reasons I come to a conclusion that for the closed system
The most reasonable policy consists in the end in maintenance
Stable general level of monetary wages. This conclusion remains in
To force and for open system provided that balance with other world
It is possible to supply by means of fluctuating rates of exchange. Known degree
Flexibility of wages in individual industries has advantages,
As it can promote moving of a labour from branches,
Being in relative decline, in rather extending branches. But
The general level of monetary wages should be supported as much as possible
Stable, at least in short-term aspect.
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