A Century of Bank Rate.Longmans, Green and Co., London , 1938 Stock Code: 136459
NotesFirst edition, first impression. Ralph George Hawtrey (1879-1975) was a British economist, close friend of Keynes, and a fellow member of the Cambridge Apostles, the University's intellectual secret society. However, from the latter 1920s Keynes and Hawtrey differed greatly on the bank rate, "Hawtrey holding that changes in bank rate operated through their effect on the cost to merchants of holding stocks, while Keynes argued that such changes, by altering long-term rates, influenced investment in fixed capital" (ODNB). Hawtrey provides an extensive critique of Keynes's General Theory in the present book (pp. 195-203).
Octavo. Original green cloth, spine lettered in gilt.
Spine darkened, light foxing to endpapers and edges. A very good copy.
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