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The Robertsonian Theory of Interest

In: Robertsonian Economics

Author

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  • John R. Presley

Abstract

The logical extension of the analysis of the preceding section is to explore the relationship which exists in Robertsonian theory between saving and investment. In this one encounters the theory of the rate of interest since the Robertsonian approach argues that changes in saving act upon investment via the rate of interest. First thoughts on this subject might lead one to believe that interest theory is straightforward — there seems little controversial in the proposition that savings will act on investment through changes in the rate of interest; but the 1930s saw the elevation of interest theory to a position of extreme importance in the theoretical debates surrounding especially Keynes’ Treatise and the General Theory and the work of the Austrian and Swedish schools on industrial fluctuation.1

Suggested Citation

  • John R. Presley, 1978. "The Robertsonian Theory of Interest," Palgrave Macmillan Books, in: Robertsonian Economics, chapter 7, pages 132-147, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-03239-6_13
    DOI: 10.1007/978-1-349-03239-6_13
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