Prosperity and Depression.pdf

XVIIIAnalYtical Table 0/· ContmtJconsumers' demand (127)-The stmcture of production and the now ofmoney (129)-Saving and investment .6 a.u and '61'0$1 (131)~Difficultyin distinguishing vertical and horizontal maladjustments (132)-Lederer'sthrory (I33)-A monetary under-consumption theory (134)-Importanceof construction period in the upswing (134).§ 4· The Failur, of"Wag,s to ris, sujJicimlly as th, Caus, of the ExcISS" of II.,Boom: Lag in wage-rise stimulates investment (137)-Wage-lag as viewedby over,.-investment theorists and by under-consumptionists (139)­Excessive profits as source of saving (139)-61 Autonomous It and U heteronomousn saving (14 1).CHAPTER 6._ uPSYCHOLOGICAL 'rBEOR!1£S It§ I. IntrodU&tion: Psychological and economic factors (142).§.2. A fJ4lysis of the Psychological Factor in the E~planation of the BuritUS6Cycl, : Stress on expectations (143)-Expectations are uncertain (145)­Optimism and pessimism (145)-Entrepreneurs' reactions are indeterminate(146)-61 Irrational" influences stressed by 61 psychological" theorists(147)-Errors of optimism create errors of pessimism (148).§ 3. Summary: Compatibility with other theories (149).CHAPTJtR 7.-HARVEST THEORIES. AGRICULTURE AND TBE BUSnmss CYCUC§ I. Introduetion: Theories of periodic harvest variation (15I)-Qther viewsas to the relation between agriculture and business (I53).-CompatibWtyof different theories (1.54).§ 2. How Agricultural Fluctuations influeft&' Industry antl Trad,: Assumptionof a closed economy (IS4)-A. 61 Real tt elasticity theories (ISS)-Elasticityof demand in terms of money and of 61 effort " (IS~)-B. Influence ODindustries using agricultural raw materials (IS8)-C. Influence on realwages (I-S9)- D. Migration of labour between town and countryside (I59)­B. Effects on non-agricultural consumers' goods industries (IS6)-F. Farmers'purchasing power (160)-G Effects on jnvestment (I6I)-H. Bffectson saving (162)-1. International aspects (162)-8ummary (163).i 3. InflUlft&' of the BUSf1USS Cycle on Agriculture: Inelasticity of farm output(I6s)-Efiect on demand (I6s)-Effect on costs (I66)-Concludingremarks (167).CHAPTER 8.--80ME RECENT DISCUSSIONS RELATINGTO THE THEORY OF THE TRADE CYCLE! I. Introduction: General nature of the literature reviewed (168)-Differencesin terminology versus differences in substance (16g).§ 2. Saving and Inv,stment: Everyday meaning of S and I ambiguous (170 )-Neo-Wicksellian usage of S and 1 (17o)-Mr. Keynes' equality of Sand 1