Chapter 9: Profit and Interest
Some assumptions made in this chapter
In the last chapter, I indicated that when I examine the industrial cycle proper, I will assume initially that only metallic money and credit money exist and bring in token money at a later stage—that is, I will assume a gold standard.
However, in this chapter, it is more useful to assume the existence of not only metallic and credit money but also token-paper money. Here I will assume a paper money system and not the gold standard. The reason is that the laws determining the interest rate only find their full expression under a token money standard.
A Critique of Crisis Theory 