Fallacies of Interest-Free Deficit Financing

J. Carl Poindexter

The Quarterly Journal of Economics, 1944, vol. 58, issue 3, 438-459

Abstract: Origin of the proposals, 438. — I. Cyclical depression: Wright's arguments, 440; bank costs and bank profits, 443; proposals for service charges, 445; interest on deposits, 446; the problem of credit control, 447; redundancy of banking facilities, 449; taxation as an instrument of control, 451; special issues of interest-bearing bonds, 453. — II. Secular stagnation: two possible assumptions, 455; effect on consumption, 456. — III. War economy, 457. — IV. Conclusions, 458.

Date: 1944
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