[77] Positive Theory of Capital, p. 156.
[78] Schumpeter's scheme gives no money-prices. No form of this scheme gives any quantitative values. Nothing but ratios can come from it.
[79] Supra, chs. on "Value" and "Supply and Demand."
[80] See, infra, the chapters on "Volume of Money and Volume of Trade," and "The Functions of Money."
[81] Infra, chs. on "Origin of Money," "Functions of Money," and "Credit."
[82] Supra, ch. on "Supply and Demand."
[83] See note at the end of this chapter.
[84] Supra, chapter on "Cost of Production."
[85] That this is wholly alien to Böhm-Bawerk's thought is sufficiently indicated by Böhm-Bawerk's vigorous criticism of Professor J. B. Clark, in "The Ultimate Standard of Value," Annals of the American Academy, vol. v, pp. 149-209. It may be noticed that Schumpeter makes use of Menger's and Böhm-Bawerk's general doctrine of imputation of the value of goods of the first order to goods of higher orders, without seeing that his equilibrium picture gives no basis for such a procedure.
[86] Cf. comments on Professor R. B. Perry's view, in the long note at the end of this chapter.