Commercial Bank Behavior and Economic Activity: A Structural Study of Monetary Policy in the Postwar United States. By Stephen M. Goldfeld. Amsterdam, North-Holland Publishing Company. 1966. Pp. x, 212. $7.50. - Volume 33 Issue 4
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Policy makers have recently devoted a great deal of attention to the interest rate ceiling on bank loans, one of the two main impediments to the free flow of funds within the Canadian capital markets. The other major impediment, the interest rate ceiling on government-insured mortgages, has largely been ignored despite the pronounced impact it has upon the allocation of funds, and the recommendation of the Royal Commission on Banking and Finance that it be abolished. Recent instability in the residential construction sector has, however, once again focused attention upon this ceiling and raised the question of its desirability. The purpose of this paper is to correct a major misconception concerning the impact of this ceiling and to point out some of the other major implications of an interest rate maximum on governmentinsured mortgages.
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In recent years some economists have suggested that under a wide range of circumstances free international trade will result in a situation where each country simultaneously produces, exports, and imports products which are very close substitutes for each other in consumption, production, or both. Because of the similarity of these products they are commonly accounted for in the same statistical “industry” classification, and the resultant international pattern of production and trade can conveniently be described as “intra-industry specialization” as contrasted with “inter-industry specialization” which results when countries produce and export but do not import the output of some industries while they import but do not produce or export the output of some other industries. It was considered that in the European Common Market intra-industry specialization dominated over inter-industry specialization and that similar developments were important in the development of Benelux trade. At the same time, but independently from these two suggestions in the literature, two pieces of research produced models capable of explaining which country would tend to specialize in which of the different qualities or styles of commodities making up the international trade in products of the same industries.
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“The wages fund theory is the crowning instance of an untrue abstraction … and it has probably done more injury to the reputation of economic theory than any other generalization ever received into economics textbooks and then expunged from them.” These words, by James Bonar, fairly well express the view that has dominated economic thought on the wages fund doctrine for the past century. Writing forty years after Bonar, Paul Samuelson claims he has been impressed by the “falseness and emptiness of the wage fund doctrine,” stating that the controversy it inspired “constitutes one of the most sterile chapters in that dreary gap between the classical age and the revolutionary neoclassical discoveries of that last third of the nineteenth century.”
The urban transportation problem , The urban transportation problem , کتابخانه دیجیتال و فن آوری اطلاعات دانشگاه امام صادق(ع)
Journal Article The Rise of Nationalism in Central Africa: The Making of Malawi and Zambia, 1873–1964, The Making of Tanganyika and Pan-Africanism and East African Integration Get access The Rise of Nationalism in Central Africa: The Making of Malawi and Zambia, 1873–1964. By Robert I. Rotberg. Cambridge, Mass.: Harvard University Press for the Center for International Affairs, Harvard University; London, Nairobi: Oxford University Press. 1966. 360 pp. Bibliog. Index. 48s.The Making of Tanganyika. By Judith Listowel. London: Chatto & Windus. 1965. 451 pp. Bibliog. Index. 50s.Pan-Africanism and East African Integration. By Joseph S. Nye, Cambridge, Mass.: Harvard University Press for the Center for International Affairs, Harvard University; London, Nairobi: Oxford University Press. 1966. 307 pp. Bibliog. Index. 45s. George Bennett George Bennett Search for other works by this author on: Oxford Academic Google Scholar International Affairs, Volume 43, Issue 1, January 1967, Pages 168–169, https://doi.org/10.2307/2612577 Published: 01 January 1967
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