Reviews the book "Current Practice in Accounting for Depreciation."

The article presents information on acquisition of electronic data processing (EDP) by universities. Universities contemplating the acquisition of commercial electronic data processing equipment face a situation which makes their approach at once both like and unlike that of industrial firms. The university is at one time both a cost-justifying business establishment (in its business office operations) and a purposefully loss-incurring experiment station (in its research and teaching operations). The duality of viewpoint places university administrators in a position of having to be sympathetic toward academic demands for tremendously high-priced equipment and at the same time to be hard-boiled about cost justification, for the school's own commercial uses. The uncertainties of prospective cost savings and the relatively costly long-term manpower requirements in making ready, are good reasons for university comptrollers to take a long, slow look at EDP. The writer suggests that to meet the need for qualified faculty, more teachers must extend their educational backgrounds to include the whole "management science" area and specifically the EDP specialty.

Warren L. Smith, Some Evidence on the International Price Mechanism: Comment, The Review of Economics and Statistics, Vol. 40, No. 1, Part 2. Problems in International Economics (Feb., 1958), pp. 127-129

DESPITE extensive controversy and discussion,1 the subject of monetary interest theory still seems to involve a considerable residue of confusion and uncertainty. While the writer does not pretend to be able to unsnarl all the tangled threads of this complex subject, it is hoped that the analysis presented here will serve three somewhat interrelated purposes: (i) to clarify the relation between the Keynesian liquidity preference theory and the loanable funds theory espoused by Robertson, Haberler, and others; (2) to produce a clearer understanding of the relation between stock and flow analysis in monetary theory; and (3) to develop an important distinction between (a) the determination of the rate of interest in a short period when the level of income is not in equilibrium, and (b) the forces that explain the change that occurs in the rate of interest during a longer period as the level of income moves from one equilibrium position to another.

In this note classical tools are used to examine the treatment of "gifts in kind" under the federal income-tax laws as they were but a few years ago, as they are today, and as they should be, given the objective that the law appears to be trying to achieve. It will be demonstrated that, under certain conditions, firms today can maximize profit after taxes by producing some output to be given to acceptable charities.