Page 152 - DECO402_MACROECONOMIC_THEORY_PUNJABI

smStI ArQSwsqr dy isDWq

È؇ 16.1 mudrw purqI : Bwv Aqy pirBwSw (Money Supply : Meaning and Definition)

mudrw purqI dw Bwv ArQ-ivvsQw iv`c aplbD mudrw dI mwqrw hY[ ieh iek stw`k AvDwrxw hY ijsdw
iek smy iv`c mwp kIqw jwdw hY[ iek inSicq smy iv`c ArQ-ivvsQw iv`c pRcilq kryNsI dI kul mwqrw Aqy
mMg jmw dI kul mwqrw dy kul joV ƒ mudrw purqI ikhw jwdw hY[ kryNsI ArQ-ivvsQw iv`c pRcilq isky Aqy
kwgj mudrw dw kul jox hY[ mMg jmw Aqy cyk jmw aus bYNk jmw ƒ ikhw jwdw hY ijsƒ jmwkrqw mMgx qy bYNk
qo pRwpq kr skdw hY jW ijsƒ cyk rwhI bYNk qo lY skdw hY[ lyikn ArQSwSqrI mudrw dI Awm pirBwSw qy
iek mq nhI hn[ mudrw purqI dy bwry iv`c iBn-iBn mq hn[ keI ArQSwSqrI kryNsI Aqy mMg jmw ƒ mudrw
purqI dy kyvl do sMGtk dy rup iv`c mwndy hY jdik dUjy ArQSwSqrI smy jmw ƒ mudrw purqI dy iqjy sNGtk
dy rup iv`c mwndy hn[ hikk`q iv`c jykr kyvl cln nwl kryNsI Aqy mMg jmw ƒ hI mudrw purqI iv`c Swml
kIqw jwvygw qW AsI mudrw ƒ kyvl ivinmX dy miDAm q`k sIimq kr dygy[ mu`l sMcX dw AwDwr vI mudrw
dw m`hqvpurx kMm hY[ ies kMm dw ivvycn krx nwl mudrw purqI iv`c kryNsI, mMg jmw, smy jmw Aqy ivqIX
apkrx ƒ Swml krxw cwihdw hY jyVw mu`l sMcX dy AwDwr dy rup iv`c kMm krdy hn[
J imltn PRIfmYn dy muqwbk, “cln iv`c kryNsI Aqy mMg jmw dy Alwvw mudrw purqI iv`c bcq Aqy smy
jmw Swml hoxI cwihdI hY[”(Money Supply should also include saving and term deposits
besides currency in circulation and demand deposits.–Milton Friedman)
J efvrf SwpIro dy SbdW iv`c “mudrw purqI aun swirAW vsqU syvwvW dI fw`lr mwqrw hY jyVI Awm lokW
dy rwhI vsqUAW, syvwvW dy ivinmX dy leI pRdwn Aqy hor mu`lvwn pirsMpiq Aqy krj AdwXgI dy leI
gRhx kIqI jw skdI hY[”(Supply of money is the dollar amount of all those things which
are generally acceptable by the public in payment of goods, services and other valuable
assets and for discharge of debts.–Edward Shapiro)
J jy. jI. gurly Aqy ie. As. Sw` dy muqwbk, “mudrw iv`cy aun swry vsqUAW ƒ Swiml kIqw jwxw cwihdw hY
jyVw ausdy sbqo njidk dw pRiqsQwpn hY[”(Money should include all those things which are
its close substitutes.–J.G. Gurley and E.S. Shaw)

insicqkwlIn jmWvW nUM mudrw dI puUrqI iv`c ikauN Swiml kIqw jWdw hY?
(Why include term Deposits in the Supply of Money?)
ieh jmWvW inSicq smyN AviD dy leI huMdI hY[ ies auqy ibAwj dI dr smyN Anuswr inSicq huMdI hY[ cYk
rwhIN iehnW nUM nkdI iv`c bdilAw nhI jw skdw, ijs kwrx ieh jmW mMg jmWvW qoN iBMn hUMdI hY [ AMq
iehnW (Cash-in-hand) nUM nkdI nhI ikhw jWdw[ pRSn auTdw hY ik jykr ieh jmWvW krMsI dI qrW qrl
nhIN hY qW iehnW nMU mudrw dI pUrqI iv`c Swiml ikauN kIqw jWdw hY? bySk bYNk rwhI jwrI insicqkwlIn
jmW dI rsId nUM vrqmwn jW Biv`K dy Bugqwn hyqu ivinmX dy mwiDXm dy rUp iv`c pRXog nhIN ilAwieAw
jWdw; jdik imltn PRIfmYn ijhy ArQSwsqrI iehnW rsIdW nMU mudrw dI pUrqI iv`c Swiml krn dy p`K
iv`c hn[ ahnW dI dlIl ieh hY ik smyN AviD (inSicqkwlIn) jmW nUM aucI b`ty dI dr qy mMg jmW iv`c
bdilAw jw skdw hY[ smyNAvDI jmW nUM mMg jmW iv`c bdlx iv`c aunW smW lgdw hY ijnW aucy btty dI dr
dw Bugqwn bNYk ƒ krx iv`c[ iesleI inSicqkwiln jmwvW ƒ vI mMg jmwvW dI qrW mudrW dI purqI dw
iek ihsw smiJAW jwxw cwihdW hY[

È؇√ smyvir jmw ƒ mMg jmw iv`c bdlx iv`c aunW hI smW lgdw hY ijnW aucy bty dI dr
dw Bugqwn bYNk ƒ krx iv`c[

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