Economics and Insurance: A Correction The Review of Economic Studies, Volume 5, Issue 2, February 1938, Page 157, https://doi.org/10.2307/2967531 Published: 01 February 1938

Scope and purpose of study, 1.— I. Reserve policies of London Clearing House banks: primary expansion, 2.— Customary reserve ratios, 2.— Coefficients of expansion: commercial banking system, 8.— Individual commercial banks, 10.— II. Reserve policies of the Bank of England: systemic expansion, 16. — Deposit expansion, 17. — Currency and deposit expansion, 27.— III. Coefficients of expansion as guides for banking policy and reform, 35.

Preface Get access William Leonard Crum William Leonard Crum Cambridge, Mass. March, 1938 Search for other works by this author on: Oxford Academic Google Scholar The Quarterly Journal of Economics, Volume 52, Issue Supplement, May 1938, Pages 5–7, https://doi.org/10.1093/qje/52.Supplement.5 Published: 01 May 1938

I. Alleged special features of Australia's economic position, 87.— II. The argument based on the terms of trade, 89.— The question of elasticity of demand, 92.— III. The influence of diminishing returns in the primary industries, 97.— Average vs. marginal conditions, 99.— The infant industry argument, 100.—IV. Effect of protection on the distribution of the national income, 102.— Conclusions, 104.

VII. Relative marginal productivities of labor and capital, 215.— Time-drift in the data, 220.— VIII. Correspondence between the productivity attributable to labor by the production formula and the actual course of wages, 221.— Possible explanations of the apparent discrepancy, 224.— Correlation between real earnings and marginal product per worker, 232.— Value productivities and real earnings, 238. —IX. Summary and general considerations, 242.— Some criticisms considered: David Durand's, 244; J. M. Clark's, 246.— The paradox of rising interest rates, 248.

Reviews the book "Elementary Accounting," by George H. Newlove, Leo C. Haynes and John A. White.

To some people an accountant is still a human adding machine. It may be true that his success is dependent to a considerable extent upon his aptitude for handling figures, but the leading positions in this profession rest in the hands of those who combine this aptitude with an even more important qualification, the ability to negotiate. Students specializing in accounting are, for the most part, woefully ignorant of the necessity of developing this ability and therefore concentrate on the theory as found in books and in problems to the exclusion of experience in making contacts with individuals. Students who have a natural aptitude for dealing with people sometimes avoid accounting as a career because they are not sufficiently familiar with the satisfaction, which an accountant experiences in the way of contacts. Therefore, many young men who would succeed as accounting executives select other careers because they want jobs in which they meet people rather than those pore over figures all day long.