Comprehension

Status
Not open for further replies.

jiang

Key Member
Joined
Nov 18, 2003
Member Type
Student or Learner
Native Language
Chinese
Home Country
China
Current Location
China
Dear teachers,

Please read the following paragraph ( to make it easier for you to find my relative sentences I number each sentence):
(1) But the attitude toward money has, of course, changed. (2) Excepting pocket money, cash of any kind is now rarely used; money as a tangible commodity has largely been replaced by credit. (3) A deficit economy, accompanied by huge expansion, has led us to think of money as product of the creative imagination. (4) The banker no longer offers us a safe: he offers us a service in which the most valuable element is the creativity for the invention of large numbers.

I don't understand (3) and the second part of (4). Could you please kindly explain them to me?

I am looking forward to hearing from you.

Thank you in advance.

Jiang
 

Tdol

Editor, UsingEnglish.com
Staff member
Joined
Nov 13, 2002
Member Type
English Teacher
Native Language
British English
Home Country
UK
Current Location
Japan
Number 3 is beyond me. 4 suggests that the role of banker has changed from a custodian of valuables to someone who is involved in generating money for their clients. ;-)
 

MikeNewYork

VIP Member
Joined
Nov 13, 2002
Member Type
Academic
Native Language
American English
Home Country
United States
Current Location
United States
jiang said:
Dear teachers,

Please read the following paragraph ( to make it easier for you to find my relative sentences I number each sentence):
(1) But the attitude toward money has, of course, changed. (2) Excepting pocket money, cash of any kind is now rarely used; money as a tangible commodity has largely been replaced by credit. (3) A deficit economy, accompanied by huge expansion, has led us to think of money as product of the creative imagination. (4) The banker no longer offers us a safe: he offers us a service in which the most valuable element is the creativity for the invention of large numbers.

I don't understand (3) and the second part of (4). Could you please kindly explain them to me?

I am looking forward to hearing from you.

Thank you in advance.

Jiang

My sense of #3 is that there really is no rational basis for money. In a deficit economy, the government borrows money from its citizens to pay for things that it does for citizens. As an economy expands, a government prints more money, beacuse the money is backed by the entire size of the economy (GDP). So you have a government borrowing money to buy goods and services (which expands the economy); then it prints money because the economy has grown. It seems to work, but it doesn't seem terribly grounded in reality.
 

jiang

Key Member
Joined
Nov 18, 2003
Member Type
Student or Learner
Native Language
Chinese
Home Country
China
Current Location
China
Thank you very much for your explanation. Now I see what No.4 means.
If Number 3 is beyond you, then it is of course beyond me. This makes me feel a little better.

Jiang


tdol said:
Number 3 is beyond me. 4 suggests that the role of banker has changed from a custodian of valuables to someone who is involved in generating money for their clients. ;-)
 

jiang

Key Member
Joined
Nov 18, 2003
Member Type
Student or Learner
Native Language
Chinese
Home Country
China
Current Location
China
Thank you very much for your explanation. So 'large numbers' means 'large sum of money'. Is that right?

I am looking forward to hearing from you.

Thank you in advance.

Jiang
MikeNewYork said:
jiang said:
Dear teachers,

Please read the following paragraph ( to make it easier for you to find my relative sentences I number each sentence):
(1) But the attitude toward money has, of course, changed. (2) Excepting pocket money, cash of any kind is now rarely used; money as a tangible commodity has largely been replaced by credit. (3) A deficit economy, accompanied by huge expansion, has led us to think of money as product of the creative imagination. (4) The banker no longer offers us a safe: he offers us a service in which the most valuable element is the creativity for the invention of large numbers.

I don't understand (3) and the second part of (4). Could you please kindly explain them to me?

I am looking forward to hearing from you.

Thank you in advance.

Jiang

My sense of #3 is that there really is no rational basis for money. In a deficit economy, the government borrows money from its citizens to pay for things that it does for citizens. As an economy expands, a government prints more money, beacuse the money is backed by the entire size of the economy (GDP). So you have a government borrowing money to buy goods and services (which expands the economy); then it prints money because the economy has grown. It seems to work, but it doesn't seem terribly grounded in reality.
 

Tdol

Editor, UsingEnglish.com
Staff member
Joined
Nov 13, 2002
Member Type
English Teacher
Native Language
British English
Home Country
UK
Current Location
Japan
Large numbers refers to the amounts of money, imo. ;-)
 

MikeNewYork

VIP Member
Joined
Nov 13, 2002
Member Type
Academic
Native Language
American English
Home Country
United States
Current Location
United States
jiang said:
Thank you very much for your explanation. So 'large numbers' means 'large sum of money'. Is that right?

I am looking forward to hearing from you.

Thank you in advance.

Jiang

You're welcome.

Yes, as TDOL said -- money. :wink:
 
Status
Not open for further replies.
Top