INDEX

399

Risk—

three types of, 144--5and accumulation, 348, 351and future of capitalism, 221,375

and inequality of incomes, 372to-day, 309

the monetary authority anddebts of different degrees of,205-6

and a low rate of interest, 208moral, 144-5, 2 °8> 3°9Risk-cost, 68

Risk, entrepreneur’s, 144-5Risk, lender’s, 144-5Risk-premium and liquidity pre-mium, 240

Robbins, L., 20 79, 192

Robertson, D. H., 78, 79 n., 143 n.,180 n., 187 327

Robertson, J. M., 365 n.

Robinson Crusoe, dialogue between,and a stranger in Gesell ’sNatural Economic Order , 356“Roundabout” methods of produc-tion, 211, 214-15

Save, propensity

and propensity to consume, 65and rate of interest, 165, 178, 183,217-20

chronic tendency of, 347and Hobson’s theory, 367-8see also Consume, propensity toSaving—

defined, 62discussed, 61-5

and consumption, 217-18, 248and elasticity of employment,287

its future, 372-3, 375-6in Treatise on Money, 60Hobson on, 364-71and Jevons ’s Tradetheory, 330Malthus on, 363-4Mandeville on, 360-62in Mercantilist thought, 358-9Adam Smith on, 352Saving and investment, 61-5,

85* 1 83-57 328and classical theory, 177-9Saving, aggregate, 80, 110-11Marshall on, 178, 186-8

Cycle

74 -

Saving (contd .)—

Saving, forced, 79-81, 183, 292,328

Saving, individual, nature of, 19,21, 64-5, 210-13Saving, negative (dis-saving), 82unemployment relief and, 21,109

and zero rate of interest, 217-18Saving, net, defined, 60 ; 62, 64Saving, over-, Hobson on, 365-70Savings, accumulated, and liquidity,

. *94

Savings-deposits, 195Say, J. B. , 3 n„ 18, 363Say’s Law, 26Scarcity—

and yield of capital, 213-15and productivity, 215Schools of thought concerningTrade Cycle , 324-9Schrotter, von, 344, 359Securities, price of, 94, 199-200, 206Short period—

consumption and changes in therate of interest in, 93-4elasticity of employment in, 302-3diminishing returns in, 81, 91-2,114, 121-2, 302, 305-6, 328wage policy in, 270fluctuations of liquidity-prefer-ence in, 336

Short-term bills and bank rate, 206Short-term expectations, see Expect-ation, short-termShort-term loans—and bank charges, 208and changes in wage-unit, 263Sinking funds, 95, 100-102Smell, a factor of production (?),2I 5

Smith, Adam , 352-3, 361 n., 368Wealth of Nations, 352 n.Socialised community, wage policyin, 267

Socialism, 377Solon, age of, 340 n.

South Pole, expedition to, analogyof, 162

Spain , in fifteenth and sixteenth cen-turies, 337Speculation, 154-64

distinguished from enterprise, 158-

z 59