Full text of Committee on the History of the Federal Reserve System : Interest Rates in Theory and Policy : Role of Interest Rates in Monetary Theory and Policy - Subject File - 1903, Entry 176, Box 9, Folder 3, Item 5

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CARVER, T. N.
The r e l a t i o n of abstinence t o i n t e r e s t ,
QUARTERLY JOURNAL OP ECONOMICS, XVIII,
1905, pp. 142-145.




CASSEL, Gustav
THE NATURE AND NECESSITY OF INTEREST •
1903leview by F. A* Fetter, in POLITICAL SCIENCE QGAB-

Theory of capital

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M

In this work tfhe was chiefly concerned to demonstrate
a separate productivity inhering in capital, explicable
on the grounds of scarcity of supply without recourse to
psychological determinantsj but the treatise illuminated
the theory of capital in many ways. The services of
capital would be scarce and valuable even in a socialist
state: the problem of why interest exists should not be
confused with the ethical issues raised by the possibility
of living through owning. Students of capital theory will
recall also Casselfs suggestion of what we now call a
1
backward rising^ capital supply curve, and his idea that
interest rates (expressed as the number of years purchase)
may
have some connection with average " * • " f " * " ^ ;
7
Ellis, memorial Note, AER, June 1945,
p. 508.



PALGRAVE, R. H. Inglis
BANK RATE AND THE MONEY MARKET. New York:
E. P. Dutton & Co., 1903. Pp. vi, 180.




TOTTLE, C. A.
The real capital concept, QOARTEHLY
JOURNAL OF ECONOMICS,
1903.