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SOME INTRODUCTORY OBSERVATIONS by Alvin H Hansen
CAPITAL FORMATION IN THE UNITED STATES 19191935
EFFECTS OF PUBLIC SPENDING ON CAPITAL FORMATION
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agriculture amount billion bonds boom borrowing business cycle capital consumption capital financing capital supply Carl Snyder change in claims claims against foreign claims to income Colin Clark cyclical debt definitions of capital depreciation depression distribution dollars durable commodities economic policy effect estimates expansion expansionary factors Federal Reserve flow of consumers flow of money flow of savings fluctuations funds gross capital formation gross national product hoarding important increase industrial interest rate inventories investors Keynes liquidity loans member banks ment modities monetary Napoleonic Wars national income National Monetary Commission national product nomic oversaving period postwar private investment profits progressive taxation public agencies public spending rate of interest rediscount rate relative Reserve Banks residential construction result rise securities speculation statistical stimulating stock market stock of physical sumers Table tax policy taxation theory tion total volume ultimate consumers yield York Stock Exchange