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The Expansion of Credit in an Advancing Community

In: Economic Essays

Author

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  • Roy Harrod

Abstract

The question has been much discussed recently whether in an advancing community it is desirable that the general level of prices should remain constant or fall in proportion to the increase in the flow of goods. Grave difficulties beset any attempt to define the general level of prices, and these apply in connexion with either desideratum. When a fall of prices is considered, the weights used in the index number of prices should, of course, be the same as those used in defining the increase in the flow of goods.

Suggested Citation

  • Roy Harrod, 1972. "The Expansion of Credit in an Advancing Community," Palgrave Macmillan Books, in: Economic Essays, edition 0, chapter 0, pages 221-236, Palgrave Macmillan.
  • Handle: RePEc:pal:palchp:978-1-349-01494-1_11
    DOI: 10.1007/978-1-349-01494-1_11
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