Word: levelers
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Dates: during 1930-1939
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...domestic prices are concerned, Mr. Roosevelt would not like to send the dollar up in gold content, for that is the same thing as bringing down the price level-at least it might have that immediate effect. So the President has virtually been prevented from any deflationary move...
...Roosevelt has no internation of varying the gold content unless conditions require it. He has a $2,000,000,000 stabilization or equalization fund ready to sell dollars if necessary in foreign exchange so as to keep the dollar hovering around the 59-cent level. Sometimes, however, an internal political situation, such as the fall of a ministry, may send the currency unit of a foreign country down, which is the same thing as forcing the dollar up. It is to offset these emergencies that the big equalization fund is to be employed...
...question is whether Mr. Roosevelt will some day wish to use the other nine points of his margin and depreciate the dollar to 50 cents. He might wish to do this if he felt the price level was not rising fast enough. The chances are he will no bring the dollar down any further than 59 cents because prices are rising now and there is every indication that there will be for a year or so anyway an increased demand for goods, certainly as long as public funds last and public projects are spending at the present rate...
...Fisher does succeed, in "Passions Spin the Plot," in keeping his straight-forward method at an unusually high level. Most of the irrelevancies are later reclaimed and justified; a clear continuity of impression has been preserved. Vridar Hunter, an Idaho farm boy, first of his line to enter the doors of a college, emerges from the second volume as a Wasatch alumnus; the record of his transformation is a careful, and a revealing, one. His problems are the old problems of youth; their setting has made them more intense and more bitter. Sex and ambition and disillusionment come sharply...
...former course to be given by Malcolm P. McNair, Professor of Marketing, Richard S. Meriam, Professor of Business Economics, and Charles I. Gragg, Assistant Professor of Business will deal primarily with the bearing on business of fundamentals of supply and demand, the price level, wages and employment, interest and profits...