"So that it cannot be denied, but the lowering of Interest may, and probably will keep some Money from coming abroad into Trade; whereas on the contrary, high Interest certainly brings it out"
- Dudley North
About this Quote
Dudley North's quote suggests that low rates of interest can prevent cash from getting in the economy, while high rate of interest can motivate it. This is because when rate of interest are low, individuals are less most likely to invest their money in the economy, as they will not get a high return on their financial investment. On the other hand, when rates of interest are high, individuals are more likely to invest their money in the economy, as they will receive a higher return on their investment. This is beneficial for the economy, as it encourages people to invest their money, which can cause increased financial activity and growth. For that reason, North's quote recommends that high interest rates can be useful for the economy, as they can motivate individuals to invest their cash and bring cash into the economy.
This quote is written / told by Dudley North between May 10, 1641 and December 31, 1691. He/she was a famous Economist from England.
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