INDEX
395
Liquidity (contd .)—
and Mercantilist thought, 341,344.
and Ricardo on Interest, 191in Treatise on Money, 173-4Liquidity-preference, schedule of,see Liquidity-functionLiquidity-premium—defined, 226
of money and other assets, 227-9of money, 233 n.of money and GeselTs theory,357-8
of land, 241-2of standard of value, 237-40Loan expenditure, 128-30, 331-2,see also State and InvestmentLocal authorities, sinking funds of,101
Locke, J., 344 «•
A Letter to a Friend concerningUsury, 344
Some Considerations of the Conse-quences of the Lowering of In-terest and Raising the Value ofMoney, 342 and n ., 343London Stock Exchange , 159-60Long-period cost, and user cost,68-9
Long period, price-level in, withstable wage policy, 270-71Long-term bonds, and liquidity-premium on land, 241and change in wage-unit, 263regulation of price of, by centralbank, 206
Long - term expectation, see Ex-pectation, long-termLoss, windfall, defined, 57-8; 228
Maintenance, and user cost, 66, 69-7°
Malthus, T. R. , on effective demand,32, 362-4, 369, 371Principles of Political Economy, 363Letter from Ricardo, 43Letters to Ricardo, 362-3Malynes, Gerard , Lex Mercatoriaand Maintenance of Free Trade,342, 345-6
Management and ownership, separa-tion of, 150-51, 153Management, monetary, see Mone-tary policy
“Manchester System**, 379Mandeville, Bernard, 371Fable of the Bees, 106, 359-62Marginal cost, see Cost, marginaldisutility of employmentof labour,see Labour
efficiency of capital, see Capital,marginal efficiency offactor cost, see Factor costmultiplier, see Multiplierproceeds, see Proceedsproduct of labour, see Labourproductivity, see Productivitypropensity to consume, see Con-sume, marginal propensity toUser cost, see User costWage cost, see Wage costMarshall , Alfred, 3 n., 19, 32, 37, 56,59> *39> *75> 176 *■» i77> i8 4>334
(and Mary), Economics of Industry,19 n., 20 n., 21Industry and Trade, 334 n.
Money Credit and Commerce, 334 n.Pure Theory of Domestic Values,
*9 .
Principles of Economics , 72, 139-140, 175-6, 186-90, 214 n., 242,334 n -
Mathematical economics, 275, 297-298
Mercantilism, 334-51? 358-9Midas, the fate of, analogy of, 219Mill, J. S., 3 n., 19-20
Principles of Political Economy, 18,364 n.
Mises , L. von, The Theory of Moneyand Credit, 192-3
Misselden , Edward, Free Trade, orthe Meanes to make TradeFlorish, 342
Monetary economy, non-, see Non-monetary economyMonetary policy, the future of, 378and rate of interest, 164, 202-8and rate of interest in classicaltheory, 243-4and liquidity, 196-9and production of money, 230,235
and saving and investment, 84and the Trade Cycle , 316-17and balance of trade, 337-9