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Fallacies of Interest-Free Deficit Financing

J. Carl Poindexter

University of Virginia

Origin of the proposals, 438. — I. Cyclical depression: Wright's arguments, 440; bank costs and bank profits, 443; proposals for service charges, 445; interest on deposits, 446; the problem of credit control, 447; redundancy of banking facilities, 449; taxation as an instrument of control, 451; special issues of interest-bearing bonds, 453. — II. Secular stagnation: two possible assumptions, 455; effect on consumption, 456. — III. War economy, 457. — IV. Conclusions, 458.

DOI

10.2307/1882849

Volume

58 (3)

Pages

438

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