T. W. Swan: Addendum to “Some Notes on the Interest Controversy”

Peter L. Swan ()
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Peter L. Swan: UNSW (Sydney)

Chapter Chapter 6 in Trevor Winchester Swan, Volume I, 2022, pp 165-168 from Palgrave Macmillan

Abstract: Abstract Since this article was set up, my attention has been drawn to an article bearing on the subject by W. Fellner and H. M. Somers in the Review of Economic Statistics Volume XXIII Number 1. The writers claim to prove that “loanable funds” and “liquidity preference” are formally identical but conclude (contrary to the conclusions reached above) that “loanable funds” is necessary to be preferred since the Keynesian theory involves the “unusual procedure of adding the same constant to both sides of an equation”.

Date: 2022
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DOI: 10.1007/978-3-031-13737-2_6

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