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From:
[log in to unmask] (Nicholas J. Theocarakis)
Date:
Tue May 1 10:08:46 2007
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Barkley Rosser wrote:
> Nicholas,
> Regarding the Frisch 1933 article, are you sure that he did not use the 
> "macrodynamics"
> that he used at the 1933 Econometric Society meetings instead of 
> "macroeconomics"?


I confess that I have not read the Frisch article in question, this is why I 
wrote that this is "the standard reference", sort of a folk attribution.

Now regarding the Lindhal reference, his 1939 Book, _Studies in the Theory of 
Money and Capital_ (Farrar and Rinehart, NY) is not a translation of his 1930 
book. Only "Part Two contains the more important sections of the work 
_Penningspolitikens Medel_ (Methods of Monetary Policy) printed for private 
circulation in 1929 and published in Swedish in 1930". (Lindahl, 1939, p. 
9). "Part One has not previously appeared in print". And it is in Part One at 
p. 74 where under the section " I. Definitions and Notation" we find the 
following:
"small letters apply to micro-economic phenomena, that is to magnitudes 
referring to a single private household or to a single firm, whereas capital 
letters indicate the corresponding macro-economic terms, i.e. sums or averages 
for a group of individuals or firms, defined in a particular way". 
At p. 52 we read "The processes studied in economics, however, are _macro-
economic_ in character, that is, they consist of acts and the results of acts 
carried out by a number of economic subjects, together constituting a _group_ 
of a certain definite character." 
The terms are indexed (p. 388)as "micro-economic and macro-economic terms, 74, 
developments 51-2, relations between micro-economic values, 78-111, relations 
between macro-economic values, 111-35." Part Two starts at p. 139.

Nicholas J. Theocarakis

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