239R. E. Dick to Harrod, 7 June 1932 [a]
The exchange continues at 247 R. Dick criticizes Harrod's letter in The Economist  as advocating two contradictory policies: reflation cannot be carried out without depreciating the currency. Dick considers the method proposed by Harrod as unworkable, and gives reference to his own treatment of the subject.  He diagnoses that there is sufficient money out, although it does not circulate; he therefore argues that economy policies should be turned into policies of lavishness.
2. E. Dick, The Interest Standard of Currency, London: Allen & Unwin, 1925, pp. 161 and following, 175-79, and The Problem of Interest in its Relation to Currency and Debt, London: William & Norgate, 1929, pp. 32, 58, 85.
- a. From 27 Drosselstrasse, Basel, three pages TLS on two leaves, in HP IV/276-277/1; envelope addressed to Christ Church.
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