INDEX

Russell Sage Foundation , studiesof small loans by, 214.

Russia , rate of interest in, 375.

Russians , characteristics of, makefor high interest rates, 376.

S

Savings, not income, 455; rela-tion of, to interest, 286-287.

Schmalenbach, E., money fluc-tuations and accounting, 44.

Schmidt, Dr. F., money fluctua-tions and accounting, 44.

Schumpeter , Joseph, cited, 489.

Scotch, characteristics of, lowerinterest rates, 374, 377.

Scotland , interest rates in, 374.

Seager, H. R., cited, 467; criti-cisms by, 459, 471-472; viewsof, on increased productivityand interest rate, 462; on landas capital, 460; on physical andvalue productivity, 461-462.

Seasons, changes in, change in-come streams and interestrates, 394-398.

Second approximation, stated,125-129.

Secular trends, elimination of,from correlations, 431-438.

Self-control, effect of, on impa-tience, 83.

Seligman, E. R. A., on interest inearly Rome, 377.

Selling. See Buying and selling;Borrowing and lending.

Services, criticism of, as income,456; enjoyable, measurabilityof, 456-457; as tree income, 8.

Short loans, essence of, 363.

Slavery and forced labor resultfrom poverty, 335-337.

Smith, Edgar L., cited, 220.

Snyder, Carl, cited, 439.

Socialists, views of, on interest,49-52.

Speculation reduces risks, 221#.

Spending, buying present income,113-115; compared with invest-ing, 113-115; depletes futureincome, 114; a form of invest-ment, 114.

Spending and investing, differonly in degree, 9; the problemof interest, 29-30.

Stamp, Sir Josiah, on distribu-tion, 334.

Standard deviations, of moneyinterest and real interest, 415.

Statistical study of prices andinterest, x, 399-451, 520-533.

Stocks, yield more than bonds,

220 .

Stockholders, function of, as risktakers, 218ff.

Stock prices, affected by inven-tions, 352-353.

Subjective income. See Income,subjective; and Income, psy-chic.

Supply and demand of capital,not the cause of interest, 32;and income, relation of, to in-terest, 454; to interest rates,depicted, 260#.; discussed, 260-262, 286-287.

Sweeney, H. W., money fluctua-tions and accounting, 44.

T

Technical superiority of presentgoods, Bohn-Bawerk’s theoryof, 471-485.

Third approximation, stated, 206-208.

Thrift, relation of, to interestrate, 333-335; to saving, 333-338.

Thomas, L., money fluctuationsand accounting, 44.

Time preference, marginal ratesof, equalized by loans, 117-119;

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