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KEYNES ON UNDEREMPLOYMENT EQUILIBRIUM
HARROD ON THE TRADE CYCLE
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activity amount appears bank credit banks become bonds boom capital cause cent changes considerable consumers consumption continue costs countries course cycle debt decline definitely demand deposits depression difficult dollars economic effect equal equilibrium exchange expansion expenditures fact factors fall flow fluctuations follows forces foreign France funds Germany gold higher hold important income increase industries investment issue Italy Keynes labor less limited lower maintain means ment method monetary Moreover necessary noted operations output payments period population possible problem production profit progress purchasing power raise rate of interest raw materials reached reason recovery reduced relation relatively Reserve Fund result rise saving Social stability structure supply tend theory tion trade true turn unemployment United volume wage whole