Knowledge that Transforms

I. Leading features of the industry: concentration of output, 660; excess capacity, 663; selling costs, 665; price-agreement, 667; the small baker, 668; chain-store buying, 670.— II. The theory of pure competition inadequate to explain the industry's behavior, 672; the industry viewed as a case of monopolistic competition embracing both product differentiation and oligopoly, 675.

I. Why S = I, 297.— Difficulties of seeing this: the confusion between stocks and flows, 299; the paradox of individual freedom and social necessity, 300; the habit of labeling expenditure as "out of" particular income receipts, 302; the failure to recognize the mathematical or analytical nature of the proposition, 304; a misunderstanding of arguments about equilibrium, 305. — II. Miss Curtis' condition that "all income is spent, " 305; her failure to see the place of "wishes" in economic analysis, 307.— III. An attempt to salvage one of Miss Curtis' results, 308.

Method of analysis, 548.— Taxable Income, 550.— Spending Power, 552.— Earning Power, 555.— Comparison with total national income, 559.— The Income Tax of 1894, 560.— Civil War Incomes, 561.— Distribution of Taxpayers by Income Classes, 562.— Distribution of Income by Income Classes, 565.— Comparison of Average and Modal Incomes, 567.— Distribution of Incomes of Constant Purchasing Power, 570.— Comparison with British figures, 577.— Shifting Composition of Wealthy Group, 583.— Conclusions and Comments, 585.

I. The Distribution of Income, 121.— II. Statistical Evidence on the Relation between Income and Expenditure: the Brookings study, 123; Lough's study, 124; Zimmerman's findings, 125; the Consumer Purchase data for Chicago, Denver and Providence, 125; for villages in New England and the Middle West, 129; for small cities, 129; for farm operators, 134.— Data for occupational groups, 134.— Kaplan's analysis, 134.— Definition of savings, 135.— Inferences concerning Mr. Keynes' psychological law, 135.— III. The Psychological Basis, 138.— Conclusion, 140.

Keynes I. Saving and investment may differ, 589.— Significance of the concepts as used here, 591.— Valueless for monetary policy, 594.— Robertson. The “day,” 595.— Consequences of this change, 597.— Applicable only under certain conditions, 598.— Similar concepts, 600.— The ex ante and ex post concepts. Myrdal, 602.— Usefulness of these concepts, 604.— Comparison with Robertson, 604.— Active and passive investment and saving, 607.— Keynes II. Saving always equals investment, 608.— Association with the multiplier, 608.— Comparison with classical view, 611.— Conclusions, 613.

Journal Article Professor Chamberlin on Monopolistic and Imperfect Competition Get access Nicholas Kaldor Nicholas Kaldor London School of Economics Search for other works by this author on: Oxford Academic Google Scholar The Quarterly Journal of Economics, Volume 52, Issue 3, May 1938, Pages 513–529, https://doi.org/10.2307/1884087 Published: 01 May 1938

Evolution of National Socialist policy, 401.— Control of foreign trade and raw materials, 404.— Control of investments, 407.— Control of agriculture, 408.— Control in industry and trade, 412.— Control of income distribution, 415.— Planning the labor supply, 419.— Economic mobilization, 421.— The limits of preparedness, 422.— Changes in the economic structure, 423.

History of the cobweb theorem, 255.— Restatement of the theory of market price, 257.— Restatement of the theory of normal price, 261. — Summary of cobweb theorem: (1) continuous fluctuation, 263; (2) divergent fluctuation, 263; (3) Convergent fluctuation, 265.— Extension of the cobweb analysis: (1a) two-period lag in supply, continuous fluctuation, 266; (3b) three-period lag in supply, convergent fluctuation, 266.— Cycles revealed, 268.— Limitations of the theory, 272.— An illustrative case from actual data, 274.— Not all commodity cycles cobwebs, 277.— Equilibrium economics in the light of the cobweb theory, 278.

Assumptions, 310.— I. General conditions for maximum welfare, 311.— II. The Lemer conditions, 316; the Pareto-Barone-Cambridge conditions, 318; the Cambridge conditions, 320. III. Review and comparison of the relevant points of the various expositions, 323.—IV. The sign of dE, 330.

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