As maintained by J. M. Clark the amplitude of the investment cycle is larger and that of the consumption cycle smaller than that of the income cycle, provided only the consumption constant is larger than zero. On the other hand, it is true that acceleration is neither a necessary nor a sufficient condition for magnification: not a necessary condition since (4) is independent of the investment function; not a sufficient condition since, for co = o, magnification is absent regardless of the investment function and even if Baumol's equation (3) were valid and his conditions for magnification were satisfied.

Journal Article Ricardo's Transfer-Mechanism Theory Get access Will E. Mason Will E. Mason Pennsylvania State University Search for other works by this author on: Oxford Academic Google Scholar The Quarterly Journal of Economics, Volume 71, Issue 1, February 1957, Pages 107–115, https://doi.org/10.2307/1882298 Published: 01 February 1957

Journal Article Mr Kaldor on Taxation and Risk Bearing Get access E. Cary Brown E. Cary Brown Cambridge, Massachusetts Search for other works by this author on: Oxford Academic Google Scholar The Review of Economic Studies, Volume 25, Issue 1, October 1957, Pages 49–52, https://doi.org/10.2307/2296121 Published: 01 October 1957

Sidney E. Rolfe, Geoffrey Furness, The Impact of Changes in Tax Rates and Method of Collection on Effort: Some Empirical Observations, The Review of Economics and Statistics, Vol. 39, No. 4 (Nov., 1957), pp. 394-401

The author discusses accounting system automation in this article. He defines electronic data processing in electronic computers and draws a distinction between special-purpose and general-purpose electronic computer equipment. He illustrates the point that the degree of complexity of accounting or reporting problem and its simplification possibilities influence the decision to install an electronic computer or not. He examines the advantages of the application and use of a computer with relation to clerical labor savings and the limiting factors in the use of computers to handle new work as compared to the ability of a man to review a given problem analytically and chief clerical problems in production control. The potential applications of a computer in the areas of projecting labor requirements and the production of more comprehensive and timely markets forecasts and sales analyses have been detailed. The author also brings into consideration the problems that confront the management of a business which has installed electronic data-processing equipment.

The accountant most certainly needs some knowledge of tax planning regardless of the area of his specialization. Most business executives are aware that there are opportunities to save on taxes. The nature of these opportunities is not nearly so well known. Consequently, they are frequently overlooked and unnecessary tax obligations are incurred. It is important that tax saving opportunities be recognized when they arise. While it is sometimes possible to take advantage of opportunities which were overlooked on an earlier date, the usual result of tardy recognition is a lost opportunity. Taxes cannot be neglected because it is net income after taxes that is important. In view of the importance of tax planning in the management of business, it seems desirable that instruction in the subject be made available to all students of business administration. The interests and needs of different classes of students vary widely and must be considered in determining the extent and timing of their work in tax planning. Organization of a separate course in tax planning has a number of disadvantages.

Reviews the book "Canadian Accounting Practice," by W.G. Leonard and Frank W. Beard.