additionalthat

Updated: May 12, 2025

On the Continent there has been a stiff controversy as to whether credit should or should not be called capital: in England, even the little attention once paid to abstract economics is now diverted, and no one cares in the least for refined questions of this kind: the material practical point is that, in M. Chevalier's language, credit is 'additive, or additionalthat is, in times when credit is good productive power is more efficient, and in times when credit is bad productive power is less efficient.

Walter Bagehot - Lombard Street : a description of the money market