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Books Profits, Interest and Investments G.Taunsendom (Economic Journal, March,
1940) and work T. Wilson "Capital Theory and the Trade Cycle" (Review of
Economic Studies, June, 1940). I did not manage to see the article: C. Welinder
"Hayek och" Ricardoeffekten "", Economisk Tidskrift, March, 1940.] New
Viewing of earlier literature in this subject has revealed enough
Original position: though the given assertion was supported and
It was used by huge set of authors since that time, when
To find first of all in Works, ed. McCulloch, pp. 26, 241 (Rus. The lane: D.
Compositions. It, Gospolitizdat, 1941, it.1, c.23, 258)], it, apparently,
Never adequately it was explained. In particular, though it plays the essential
Role at discussion of a problem of percent in works Bitm-Baverka, Viksellja and
- , anybody from these authors does not develop it in detail. The frequent short
Sendings on it in other general-theoretical works of our time [for example:
N.G.Pierson, Principles of Economics, I (1902), 219, 308; G.Cassel, The Nature
and Necessity of Interest (1903), p. 116 ("At constant norm of percent than
Work becomes more expensive, that it its replacement will expect "); F.A.Fetter,
Economic Principles (1915), p. 340; H.G.Seager, Principles of Economics (2d
ed., 1917), pp. 278, 289; R.G.Harwtrey, The Economic Problem (1926), pp.
324ff.; see also: H.G.Hayes, "The Rate of Wages and the Use of Machinery" and
C.O.Fisher, "An Issue in Economic Theory: The Rate of Wages and the Use of
Machinery ", in American Economic Review, 1923 (it is especially remarkable
Discussion, where the proof, in the erroneous form presented to the first
The author, it is easily denied by the second)], confirming, apparently,
Impression that this thesis has been widely accepted, on closer examination
Appear not only inexact, but often based on erroneous
Conclusions. Though in empirical researches of influence of the high wage
Payments on use of its cars were considered usually as a platitude, here by us also
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