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At that time all have been captivated by attempts of economic forecasts, in Features works on creation of economical barometre of the Harward serviceEconomy, all as though is doubtful it did not look in a retrospective show, and
Acquaintance to these works and to engineering of processing of dynamic numbers
Economic indicators was, as it is a shame to admit it, the major -- For our professional career - a practical part of extraction, with which
We came back from the United States. But there was also an essential advantage in
The volume that to us was necessary to get acquainted with modern engineering economic
Statisticans who then was still absolutely unknown in Europe.
It is not necessary to doubt, what exactly this experience of visiting of America has pushed
Me and many other things to research of problems of mutual relations between the monetary
The theory and business cycle. As an analysis starting point served nowadays, perhaps,
Forgotten, but then strenuously discussed theories of "underconsumption" of Fostera and
- [William Trufant Foster and Waddill Catchings, Profits, Publications of the Pollak Foundation for Economic Research, no. 8 (Boston: Houghton Mifflin, 1925); idem Business Without A Buyer, no. 10 same series (Boston: Houghton Mifflin, 1927; second edition, 1928); and idem The Road to Plenty,
no. Pollack's 11 series (Boston: Houghton Mifflin, 1928). Underconsumption theories
Explain fluctuations of activity by parity changes between volume Consumer demand and a volume of output (idea similar on it
The concept of an insufficient aggregate demand, though also not quite coinciding with
It). The name of the book of Hayek The Road to Serfdom (Chicago: University of
Chicago Press, and London: Routledge and Kegan Paul, 1944) can be is
Hint on the name of this work. About Fostere and Katchingse Hayek wrote in the article
- Gibt es einen "Widersinn des Sparens?" Eine Kritik der Krisentheorie von W.T.
Foster und W. Catchings mit einigen Remerkungen zur Lehre von der Beziehungen
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