A Matter of Interest: Reexamining Money, Debt, and Real Economic Growth

by William F Hixson

Overview

This work describes how the laissez-faire economy of the U.S. prior to 1929 led to a crisis of illiquidity and overindebtedness, and how the mixed economy that followed World War II will result in a similar crisis. Hixson explores the basic operating principles of a laissez-faire economy, and explains why the Great Crash of 1929 was a predictable outcome of that system. Also examined are the institutionalization of a mixed economy, the trends that show why a mixed economy has no long-term viability, and suggestions for changes in operating principles and financial practices.

Product Details

ISBN-13:	9781598240375
Publisher:	E-Booktime, LLC
Publication date:	06/28/2005
Pages:	308
Product dimensions:	6.00(w) x 9.00(h) x 0.69(d)

About the Author

WILLIAM F. HIXSON is a retired businessman and engineer who for many years operated a successful small-business partnership. He has published articles in the Eastern Economic Jourbanal, The History of Economics Society Bulletin, and Economies et Societes (France), as well as book reviews in the Review of Radical Political Economics.

Table of Contents

Foreword by John H. Hotson
Introduction
The Realization of Profits
Profit Realization and Aggregate Demand
Aggregate Demand and the Money Supply
Money Supply, Output, and Prices
How Increases in the Money Supply Are Brought About
How Increases in Money Supply Affect Aggregate Spending and Aggregate Income
The Investment Process
Debts and Illiquidity in the Private Sector in the 1920s
Complexities in the Economy of the 1920s
The U.S. Economy— 1929-1933
The Period of Recovery from the Great Crash— 1933-1939
The Mixed Economy of the 1930s
The U.S. Economy— 1939-1946
The Early Post-War Years
GNP, Money, Banking, and the Fed— 1947-1987
Debt, Interest, and Illiquidity in the Post-War Period
On the Maximum Rate of Interest
Rising Prices in the Post-War Era
Industrial and Financial Sectors— 1947-1987
Other Observations Concerning the Era Since World War II
Restructuring the Money Supply and the Banking System
Other Restructuring of the Process of Financing the Economy
References
Index