Knowledge that Transforms

Introduction, 393. — I. Rae's theory, 395. — II. Application of Rae's theory, 402. — III. Conclusion, 405. <qd> “He formulated the economic theory of new countries.…” —R. Warren James1 </qd>

I. The problem, 145. — II. The background, 146. — III. The effects on acreage, 148. — IV. The trend, 150. — V. Barley-wheat price ratio, 154. — VI. The models, 155. — VII. Relationship of regression lines and function elasticities, 157. — VIII. Conclusions, 165.

I. Introduction, 533. — II. Financial intermediaries and commercial banks, 533. — III. Possible destabilizing effects of intermediaries, 538; substitutions between money and intermediary claims, 540; portfolio shifts by intermediaries, 546. — IV. Concluding comments, 551.

I. Nature of the Puerto Rican development program, 645. — II. Changes in the structure of the Puerto Rican economy, 652. — III. The possibilities of self-sustaining growth, 660. — IV. Growth and the standard of living, 662. — V. Features unique to the Puerto Rican development, 664. — VI. Conclusion, 669.

I. Introduction, contributions to investment theory, 61. — II. Capital inputs in production theory, 62. — III. Production, using capital goods, with a fixed replacement policy, 66. — IV. Replacement theory, 72. — V. A theory of investment, replacement, and production, 77. — VI. “Overcapacity” and the dynamics of production, 80.— VII. Investment demand and the “acceleration principle,” 83. — VIII. Summary, 86.

<qd> “They also serve who only stand and wait.” — Milton </qd> Statement of the problems, 351. — Böhm-Bawerk's analysis, 352. — Interest in a two-sector economy, 355. — Digression on waiting, 359. — Calculation of the period of production, 362. — Necessity of positive rate of interest, 364. — Sketch of more complicated models, 365. — Conclusions, 367. — Mathematical appendix, 367; the bathtub theorem, 367; solution of the Solow two-sector model, 368; direct calculation of the period of investment of waiting, 370.

Back to the beginning, 217. — Time and interest, 219. — Failure of the labor theory, 220. — A simple corn economy, 222. — The special timeless case, 222. — The extreme Torrens-Ricardo Case, 223. — Land scarcity and falling interest, 225. — A long-run, constant floor for interest, 227. — The land theory restated, 228. — A final word, 230.

Introduction, 485. — Samuelson's postulate on social indifference curves, 486. — Importance to it of the concept of diminishing marginal rates of substitution, 486. — Assumption that it reflects the prevaijing egalitarian ethic and the concept of ' diminishing marginal utility, 487. — In fact it has little to do with “egalitarianism” and is much more closely related to “moderation,” 489. — Model showing Samuelson's postulate and some of the cases in which it may not hold, 489. — The problem of convexity and the relationship between “social” and “community” indifference curves, 495.

Introduction, 1. — In the beginning, 3. — The expanding universe, 5. — Scarcity of land and positive rent, 7. — Residual rent to homogeneous land, 9. — A numerical example, 10. — The case of many goods and homogeneous land, 12. — The Leontief-Ricardo tableau, 15. — Non-substitutability even where substitutability is possible, 16. — Summary and Conclusion, 18. — Appendix: Theory of differential rent, 20.

I. What is a conservative? 523. — II. The influence of the study of economics upon policy views, 524. — III. The cause of professional conservatism, 528. — IV. The scientific effects of conservatism, 530. — V. Concluding remarks, 532.