“SOME FRESH OPPORTUNITY FOR INVESTMENT IS BOUND TO PRESENT ITSELF”
ROBINSON, Joan. The Rate of Interest and Other Essays. London: Macmillan, 1952. Octavo, original black cloth. $150.
First edition of this important collection of papers concerning interest rates, liquidity preference, monetary economics, and more.
“In 1931, Joan Robinson belonged to the little ‘circus’ that helped John Maynard Keynes to make the transition from A Treatise on Money to the General Theory. She became an ardent left-wing Keynesian of the first hour.. But Keynes, Robinson soon realized, was not going to revolutionize capitalism… Robinson conceived the plan of extending the short-run Keynesian system to the long run, thus developing it into a theory of economic growth” (Niehans, 304). Although Robinson did not fully articulate that plan until The Accumulation of Capital in 1956, the early structure of it is evident in the essays that constitute this work. Here, Robinson takes on interest rates, the relationship between monetary economics and exchange rates, liquidity preference, instability, and her fellow economists (especially Keynes and his General Theory), pushing toward a new understanding of capitalism. Without original dust jacket. Owner signature of Roger Francis Gower Alford, a former member of the teaching staff at the London School of Economics. Bookseller stamp.
A handsome, about-fine copy.