Knowledge that Transforms

In a recent investigation which the author has made for the League of Nations Secretariat, it was found that share prices seem to have exerted a considerable influence on the course of the American cycle beginning in 1924 and having its boom year in 1929. The chief reason for this influence may be summarized briefly as follows: (a) Share prices have an influence on the ease with which capital issues may be floated and therefore on investment activity in general; (b) the rate of increase in share prices seems to have an influence on consumption, especially by those making capital gains. These influences have been investigated in the forthcoming League of Nations publication and will not be treated in detail now, but it may be seen from this brief indication that the formation of share prices seems to be important in the explanation of some business-cycle phenomena. This is the justification for the present paper, which deals only with that price formation.

Journal Article Periodicals Received Get access The Review of Economic Studies, Volume 6, Issue 3, June 1939, Pages 238–239, https://doi.org/10.1093/restud/6.3.238 Published: 01 June 1939

Journal Article Money Wage Cuts in Relation to Unemployment Get access H. M. Somers H. M. Somers Berkeley, California Search for other works by this author on: Oxford Academic Google Scholar The Review of Economic Studies, Volume 6, Issue 2, February 1939, Pages 161–163, https://doi.org/10.2307/2967399 Published: 01 February 1939

Journal Article The Proposal for a Coal Subsidy Get access A. Beacham A. Beacham Belfast Search for other works by this author on: Oxford Academic Google Scholar The Review of Economic Studies, Volume 7, Issue 1, October 1939, Pages 59–72, https://doi.org/10.2307/2967596 Published: 01 October 1939

Journal Article Investment in the Building Industry: 1930–1935. Part II Get access Ian Bowen Ian Bowen Oxford Search for other works by this author on: Oxford Academic Google Scholar The Review of Economic Studies, Volume 6, Issue 3, June 1939, Pages 200–208, https://doi.org/10.2307/2967645 Published: 01 June 1939

Group Equilibrium with Selling Costs Variable Get access Ronald D. Soucey Ronald D. Soucey Berkeley, California Search for other works by this author on: Oxford Academic Google Scholar The Review of Economic Studies, Volume 6, Issue 3, June 1939, Pages 222–225, https://doi.org/10.2307/2967648 Published: 01 June 1939