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. 
I am so sorry that there was not more time to see you last week-end: I had a frightful lot on my hands.
- a. TLI, one page, in HP IV-586-668b.
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