Knut Wicksell: A Cornerstone in Modern Economic Theory

abscissa accruing released actual saving amount appreciation on capital argument assumption bank credit Bertil Ohlin capitalist-commodity dealers cash holdings circulating medium consider consumption curve of fig defined definition deflated value deposits economic Eli Heckscher emerge entrepreneurs equal equation equilibrium point existing expressed factors of production flow concepts formulation function given gives inclusive of appreciation increase inflationary credit expansion Interest and Prices interest rate Joseph Schumpeter Knut Wicksell land and labour loans lognat marginal productivity market rate monetary theory money value natural rate negative neo-malthusianism normal rate Oslo price change price level primary factors productivity rate Ragnar Frisch rate 9 rate of change rate of interest ratio real capital real terms reckoned inclusive right member sense stock concepts Stockholm technical superiority UNIVERSITY OF OSLO variables Verdandi volume of capital volume of real Wicksell assumes Wicksell's ideas Wicksell's theory Wicksellian cumulative process