439. R. F. Kahn to Harrod , 6 March 1935 [a]

[Replies to a letter not found, the exchange continues at 443 ]

King's College, Cambridge #

6 March 1935

My dear Roy,

To be completely frank with you, I find your letter rather bewildering. I wonder if we might not begin by supposing that no inventions take place, i.e. that there is a fixed state of technical knowledge. Would you be prepared to start on that assumption? My next difficulty is that I can make no sense whatever of your proposition that the rate of investment is equal to the rate of increase of the rate of consumption. I imagine that it would be fair to substitute "proportional" for "equal", but even then I cannot follow why this should be so. [1]

I am so sorry that there was not more time to see you last week-end: I had a frightful lot on my hands.



  1. 1. Harrod also discussed this subject in correspondence with Keynes: see letters 442 and 444 .
    1. a. TLI, one page, in HP IV-586-668b.

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