INDEX

393

International Labour Office, 349 n.International division of labour, 333,338, 3 g 7

International trade—

in classical economics, 333future of, 382and Mercantilism, 333-50and multiplier, 120“Inventories ”, 332Invest, inducement to, 27, 137, 239,

335> 347' 8 > 3S 1 ) 333> 35 8Investment—

Investment, aggregate or cur-rent—defined, 62foreshadowed, 54discussed, 60-64in summary of General Theory,27-31, 248-53

and marginal efficiency ofcapital, 136-7, 147, 149and propensity to consume,90, 98-106, 1 ioand employment, 260-61, 281and elasticity of employment,287-88

and expectation, 149-51unexpected increase in, 123-5its future, 375-7and rates of interest, 236and liquidity-premium on land,241-2

and the multiplier, 126-8and risk, 144-5and individual saving, 210-11and stability, 250-53and the State, 106, 164, 220-221, 320, 325, 335, 349, 351,376-7, 380

in British and American statis-tics, 102-4

and the Trade Cycle , 314-32and user cost, 66and money-wages, 260-65and classical theory, 180-85Fisher on, 140-42Marshall on, 139-40, 178, 186-8and Mercantilism, 335-40Pigou on, 275, 279Investment, saving and, 60-65, 74"85> 183-5, 3^8and classical school, 177-9Investment demand schedule, de-fined, 136

Investment {contd .)—

and propensity to consume,

IIO-II

and expectations, 147, 149and rate of interest, 136-7and value of money, 142and classical theory of interest,178, 181-3

See also Capital, schedule ofmarginal efficiency ofInvestment, foreign—

and accumulation, 335-6, 339,348-9

in Australia, 270its future, 381-2Investment, “full”, 324Investment, home, and unemploy-ment, Kahn on, 113Investment-income, Hayek on, 59Investment markets, see Stock Ex-change

Investment, misdirected, 321, 323,

327

Investment multiplier—defined, 1155 248and quantity of money, 298-9in United States, 127Investment, negative, see Disin-vestment

Investment, negative net, 329Investment, net—defined, 63discussed, 62-5its vagueness, 60and consumption, 98, 326and the multiplier, 113Investment, over-, 320-24, 370Investment, public, 106, 163-4, seealso Investment and StateInvestors, professional, 154-64, 316Involuntary unemployment, de-fined, 22, see Unemployment,involuntary

Italy , wage policy in, 267Jevons, W. S., on the Trade Cycle ,

329-32

Jobber’s “turn”, 159Johnson, Dr., and Mandeville’sFable of the Bees , 359

Kahn, R. F., 113, 115, 119, 121Keynes, J. M., 79 «.

Essays in Biography , 362