Saving, asset-price inflation and debtinduced deflation

Money, Financial Instability and Stabilization Policy

Volumn , Issue , 2006, Pages 104-124

  Hudson, Michael ^a  

^a UNIVERSITY OF MISSOURI KANSAS CITY   (United States)

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EID: 84881739447     PISSN: None     EISSN: None     Source Type: Book    
DOI: None     Document Type: Chapter

References (2)

1. Keynes noted that Malthus pointed out that landlords helped contribute to aggregate demand by spending their rental income on hiring servants. But banks lend to service producers and other labour, increasing the volume of debt.
2. I review how economists have treated this phenomenon in 'The Mathematical Economics of Compound Interest: A Four-Thousand Year Overview', Journal of Economic Studies, 27 (2000), 344-63.