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Robertson on Saving (1918–1940)

  • John R. Presley

Abstract

The development of trade cycle theory in terms of an examination of the relationship between saving and investment had proceeded in the 19th century without precision being given to the definition of these terms. As a result differences in theory often arose from different implicit meanings of saving and investment. The assumption that the theory could take for granted the definitions of saving and investment was challenged in the 1920s. In Britain it was Robertson who was responsible more than anyone else for this challenge.

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Price Level Consumer Good Commercial Bank Money Supply Bank Loan 
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Robertson on Saving (1918–1940)

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© John R. Presley 1978

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  • John R. Presley

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