INDEX

Paper money. See Money, paper.

Pareto, V., cited, 69, 80; con-tribution of, to interest theory,518-519; on distribution, 334;tribute to, 518.

Pawn shops (brokers), businessof, 357; interest rates chargedby, 213-215, 379-380, 391-392.

Pearson, Karl, cited, 431.

Personal characteristics, affectborrowing and lending, 250#.;affect impatience, 249#.; affectimpatience and interest, 374-381; effect of, on impatience,81-89; summarized, 89-91.

Personal distribution. See Dis-tribution, personal.

Personal loans, classified, 357-359; defined, 356.

Persons, Warren M., cited, 431.

Plehn, Carl C., on California, 387.

Poor as lenders, 379. See Poverty.

Posterity, regard for, and interestrates, 85-87, 374-377, 398.

Poverty, effect of, on impatience,72-73; makes for high degreeof impatience, 73; relation of,to impatience rate, 335-336; tointerest rates, 375-381; towaste, 339-340.

Premium, interest as. See Agio .

Prices, relation of, to interestrates, 68#., 209, 399-451, 520-533.

Price changes, effect of, on inter-est, x, 399-451, 520-533; France ,528; Germany , 528; GreatBritain, 527; India, 529; Japan,530; and short term interestrates correlated, 425 - 429;

United States , 527.

Price index, wholesale, in France ,523; in Germany , 522; inGreat Britain, 520; in India,524; in Japan, 525; in UnitedStates, 521 .

Price indexes and interest ratescorrelated, 429-438.

Price level, changes in, and in-terest rates, 399-451, 493-497;theoretical relation of, 412-414;rate of change in, comparedwith interest rates, 408-451, 520-533

Price of services, affected by in-terest rate, 326-328.

Production loans, made for con-sumption, 454. See also Busi-ness loans.

Productivity, physical and value,54-56; increase in, effect of, oninterest rate, 462-463; increasein finally lowers interest rate,462; first raises interest rate,463; increases present value ofincome, 469; one cause of in-terest, 470-473; physical, can-not determine interest, 463;relation of increase in, uponvalue return and interest rates,56-57; relation of, to round-about (longer) processes, 475-485; and time preference bothessential to determine interest,470.

Productivity of capital, criticismsof term, 150#.; expressed inrate of return over cost, 176.

Productivity theory of interest,53-57, 125-149, 150-177, 178-205.

Profits, considered as, (1) rent,(2) interest, 33.

Property-right, valuation of, in-volves interest. See Implicitinterest.

Pseudo-rate of interest. See In-terest, money rate of.

Psychic income. See Income,psychic.

Public improvements, loans for,370.

Purchasing power of money. SeePrice level.

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