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Speculation and Economic Stability
Keynes Theory of the OwnRates of Interest
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acceleration principle amount arbitrage assets assumed assumption boom capacity capital accumulation capital intensity capital/output ratio capitalist carrying cost constant consumption convenience yield current price cyclical demand depends depression depression periods determined elasticity entrepreneurs equal equation equilibrium equipment ex-ante expected price factors fall fluctuations full employment function futures price given Harrod Hawtrey Hence Hicks implies increase industries influence interest rates Keynes Keynesian labour level of activity liquidity liquidity preference long-term rate marginal cost marginal efficiency ment monetary normal own-rate of own-interest perfect competition period population position Professor Hayek Professor Pigou progress function propensity proportion rate of growth rate of interest rate of investment rate of profit real income real wages reduce regarded relation relatively Ricardo effect rise savings short rate short-period short-term rate speculative stocks stock of capital supply curve technical progress theory tion trade cycle trend variations yield zero