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“Money is a pivot around which the whole economy clusters.” Who said it?
Keynes
Robertson
Marshall
Hawtrey
Let’s break it down:
- The quote “Money is a pivot around which the whole economy clusters” comes from Ralph George Hawtrey.
Option 4: Hawtrey is correct.
Here's what you need to know about the options:
- Keynes: Famous for his work on how government spending influences the whole economy. He talked a lot about money, but this isn’t his line.
- Robertson: Known for his work in monetary economics, but this quote doesn’t come from him either.
- Marshall: Big on supply and demand, marginal utility, and consumer surplus. He helped build the foundations of microeconomics, not quite money in this sense.
- Hawtrey: Focused on money and credit. He described money as central, a kind of axis around which the economy organizes—that’s where this quote comes from.
In a nutshell, the quote is about how money shapes everything else in the economy. Hawtrey nailed that idea.
By: santosh ProfileResourcesReport error
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