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Date: | Fri Mar 31 17:18:35 2006 |
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----------------- HES POSTING -----------------
In cleaning up some older files, I ran into a few notes for which I cannot
recall the sources. I would appreciate any help from the list.
Wicksell, Knut. Letter to Alfred Marshall, June 1, 1905.
"Moreover the theory of capital and interest cannot be regarded as complete
yet. As I have tried to show several times ... as long as capital is
defined as a sum of commodities (or of value) the doctrine of the marginal
productivity of capital as determining the rate of interest is never quite
true and often not true at all -- it is true individually, but not in
respect of the whole capital of society."
Keynes: "Owe your banker £1,000 and you are at his mercy; owe him £1 million and the
position is reversed."
On a typical day in 1844, the average adult Irishman ate about 13 pounds of
potatoes. At five potatoes to the pound, that is 65 potatoes a day.
Michael Perelman
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