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- Title
THRIFT, PRICE LEVELS, AND EMPLOYMENT--A NEGLECTED APPROACH.
- Authors
Wright, David McCord
- Abstract
The article proposes to show that a rise in thrift may, under appropriate circumstances, lower the rate of interest and increase capital accumulation, even though the investment schedule remains unchanged and the price level does not fall. There are certain consequences involved in the paradox of saving which are the relation of the marginal efficiency of capital schedule to the level of consumption and to changes in the level, and the liquidity preference-quantity of money determination of interest.
- Subjects
SAVINGS; INTEREST rates; INVESTMENT laws; INVESTMENTS; PRICE levels; LIQUIDITY (Economics); CONSUMPTION (Economics); CAPITAL investments; CAPITAL budget; CAPITAL stock; QUANTITY theory of money
- Publication
Quarterly Journal of Economics, 1965, Vol 79, Issue 3, p487
- ISSN
0033-5533
- Publication type
Article
- DOI
10.2307/1882712