Quarterly Journal of Economics Vol. 55 No. 3 1941
Monetary Policy and the Theory of Interest
Abstract
Situation before the publication of Keynes' General Theory, 488.— New controversial issues, 488.— I. Rates of return on economic resources: securities, 490; cash, 492; production, 493; consumption, 494.— Nature of the rates of return, 495.—II. Fundamentals of economic behavior: individuals, 496; firms, 496; banks, 497; governments, 498.— Significance of an arbitrary monetary policy, 498.— III. The theory of interest: the marginal productivity theory, 500; the time-preference theory, 501; the liquidity-preference theory, 503; the loanable-funds theory, 505. — Validity of the theories of interest, 506.
- DOI
- 10.2307/1885641
- Volume
- 55
- Issue
- 3
- Pages
- 488
- Sources
- openalex crossref