The Yield From Money Held

On Freedom and Free Enterprise: Essays in Honor of Ludwig von Mises (Mary Sennholz)
- Highlight Loc. 4560-65  | Added on Thursday, September 29, 2011, 12:46 AM

107 Cannan made this point in a reference to the “disastrous confusions” which can arise through the “common mistake” of dividing currency into that which is “actually circulating” and that which is “idle.” (Modern Currency, p. 8.) The demand for houses, he said, does not depend upon the number of transactions in them, but comes from “those who want to hold houses: even the speculator wants to hold for a time.” (Money, 4th Edn., p. 72.)