17. Concluding Remarks: Keynesianism—Progress or Retrogression?
KEYNESIANISM—AN INFLATION-DEFLATION THEORY OF EMPLOYMENT
In order to pass a general judgment on Keynesianism the term must be defined. This is not easy because Keynesianism has come to embrace many and varied ideas. For not only has Keynes himself made self-contradictory statements but his statements are often at variance with those of his followers, who again vary widely among themselves in their views.
Appendices
As, in my opinion, the objections raised to my Volkswirtschaftliche Theorie des Bankkredits can, with the same justification, be raised against Keynes’ work, excerpts of two of these criticisms, namely, one by Professor Howard S. Ellis and one by Professor Gottfried von Haberler, are reprinted in the following pages. Both criticisms give a good summary of the contents of my book, thus enabling the reader to compare them with Keynes’ work.
I. Excerpt from Howard S. Ellis, “German Monetary Theory, 1905-1933,” Chapter XVIII
Excerpt from Howard S. Ellis, German Monetary Theory, 1905-1933, Harvard University Press, 1934, 1937, Chapter XVIII, “The Schumpeter-Hahn Type of Cycle Theory” (pp. 327-34).
II. Translation of Gottfried Haberler, Albert Hahn’s “Volkswirtschaftliche Theorie Des Bankkredits” (Archiv Für Sozialwissenschaft und Sozialpolitik, 1927, Vol. 57, pp. 803 ff.)
Translation of Gottfried Haberler, Albert Hahn’s Volkswirtschaftliche Theorie des Bankkredits (Archiv für Sozialwissenschaft und Sozialpolitik, 1927, vol. 57, pp. 803 ff.)1
III. The Gold Exchange Paradox
The views most commonly held in the present discussion on the problem of stabilization may be summarized as follows: Advocates of stabilization argue that the disturbances and divergences to which the world economy is subject today are attributable primarily to the fact that the exchanges are not stable; those who oppose the idea o
IV. Table of Contents of “Geld und Kredit”
Tübingen, 1924
| I. | Handelsbilanz—Zahlungsbilanz—Valuta—Güterpreise |
(Archiv für Sozialwissenschaft und Sozialpolitik Bd. 38, H. 3, S. 596 ff.). |
|
| II. | Statische und dynamische Wechselkurse |
(Archiv für Sozialwissenschaft und Sozialpolitik Bd. 49, H. 3, S. 761 ff.). |
V. Table of Contents of “Geld und Kredit, Neue Folge,”
Tübingen, 1929
VI. List of Articles and Pamphlets Published Since the Appearance of “Geld und Kredit, Neue Folge,” 1929, But not Included in this Volume
(Articles in dailies are not included)
1. 1st Arbeitslosigkeit unvermeidlich?, Berlin, 1930.
2. Kredit und Krise, Tübingen, 1931.
3. Die “verfügbaren Mittel” der Börse, Zeitschrift für Nationalökonomie, 1935. Bd. 6, H. 5.
4. Geldzins und Effekten-preise, Schweizerische Zeitschrift für Volkswirtschaft und Statistik, 1936. Bd. 72, H. 1.
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