Chapter XXIII: Credit

Analysis rather than definition: "futurity" not essence
of credit; credit part of general value system; stocks
as credit instruments; juridical and accounting phases 459-462

Confidence; involved in general value phenomena as well
as credit; social psychology of confidence; contagions;
influence of centers of prestige; nothing unique in
credit; selling _vs._ borrowing 462-469

Definition of credit; credit _vs._ credit transaction;
credit and exchange; bulk of credit grows out of
dynamic conditions 469-474

Functions of credit; increasing saleability of
non-pecuniary wealth; corporate organization;
limits of credit expansion 475-478

Consideration of objections: that personal loans do not
rest on wealth; public loans; that value behind loan
would not exist if loan were not made 478-484

Schumpeter's "heresies"; his view of the function of the
banker: "dynamic credit"; America _vs._ Continental
Europe 484-488

Peculiarities and functions of bank credit; technique of
banking: capital; assets; reserves; "liquidity"; money
market 488-496