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Ute income and power toward capital -- which certainly can't be considered neutral in the long term. ironically, even the periods of recession and recovery disprove monetarist dogma, as the nearby table shows. britain showed a sharper decline in inflation than the decline in money growth would argue for, and the u.s. saw a decline in inflation despite a increase in the pace of money growth.6 we'll return to this later, when looking at theories of where money comes from -- from on high, or from below. money changes everything having proven money to be non-neutral, and monetarism to be silly, it's time to move back to keynes. in the years between the treatise and the general theory, keynes came to see that money invalidated say's law, the classical doctrine that assumed that supply creates its own demand. here's how ricardo 1911 1987, pp. 192193 ; put it in a famous passage and casino on line.
In this hierarchy or some of the layers may completely hide layers below them. for instance, an operating system may make some aspects of the underlying hardware completely transparent as in the "directx" video driver scheme ; , or a virtual machine may completely abstract away the choice of an operating system as accomplished in smalltalk [gr83] ; . the notion of a platform that is relevant for a particular application depends on the set of layers that it makes use of. for instance, if a virtual machine is not able to completely hide the idiosyncrasies of an operating system's file system or scheduling policy, and these features are utilized by an application, then these aspects of an operation system need to be part of the application's perception of its execution platform. in the following we consider each of these elements in turn. 2.1 hardware computer hardware is the most basic kind of platform on which a computer application can run, and forms the base of the hierarchy of layers. a hardware platform makes a set of basic capabilities available to applications in terms of a set of machine language instructions, memory, and various assisting components, such as a floating point arithmetic unit, etc. thanks to compiler technology, these rarely if ever have to be considered in application development. however, sometimes the performance criteria of a platform may only be met if certain special-purpose hardware such as a digital signal processor ; is used. in such cases, these hardware capabilities have to be included in the platform model. 2.2 operating system the second layer in the hierarchy of platform elements is usually regarded as being the operating system. this provides a whole host of additional capabilities such as file systems, processes, threads, etc. operating systems are rarely regarded as covering or hiding the underlying hardware because they do not reproduce the execution capabilities offered by the hardware, but rather augment it with many additional services. it is quite common for software applications to depend on the specific capabilities offered by an operating system just as much as on the underlying hardware. for example, one often speaks informally of the "wintel" platform. thus an operating system also needs to be part of an application's perception of its platform. 2.3 virtual machine not all platforms have a virtual machine layer, but if present, this layer is typically regarded as being on top of the operating system layer. the role of a virtual machine is to make the actual choice of operating system and hardware transparent. by doing so it obviates the need to compile all parts. 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