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Growing Economy
DOI link for Growing Economy
Growing Economy
Rates expected to rule over the period of the loan (see page 35 above and pages 314-318 below). We can for the time being conduct our analysis as if all borrowings and lendings were made solely on a daily basis, each loan which remains unpaid for a longer period being renewed from day to day at that day's Bank Rate. on day 1, W on day 2, and so on; and (ii) that in fact these firm expectations happen to turn out to be correct. This assumption of perfect foresight raises very great difficulties to which we shall return in due course (see Chapter XVIII below). For the time being in order to isolate one part of our problem we assume simply that in fact every citizen does
Edition 1st Edition
First Published 1968
Imprint Routledge
Pages 2
eBook ISBN 9780203106594