608. H arrod to A. Loveday , 2 January 1937 [a]

[Answered by 611 ]

Christ Church, Oxford #

2 January 1937

Dear Mr. Loveday

I must thank you for sending me an offprint of your article in the Review of Economic Statistics which I have just received. [1]

It refers to some mimeographed material of Prof. Haberler's. I received a copy of Pt I and had a considerable correspondence with him at the time on it and kindred topics. [2] I also see a reference to Pt II in which a synthesis was attempted. [3] I did not receive this and I am wondering if it is too late to ask to be allowed to receive a copy as I should be greatly interested in it.

I have recently published a volume entitled [b] The Trade Cycle: An Essay (Oxford Press) [4] in which I advance a fairly cut and dried theory with regard to the turning point from prosperity to depression, about which according to your paper your experts showed considerable disagreement. I expect your research staff have cognisance of the book, but I thought it worth mentioning in case they have not.

Yours very sincerely

R. F. Harrod

  1. 1. A. Loveday, "The League of Nations and Business Cycle Research", The Review of Economic Statistics XVIII:4, November 1936, pp. 157-61. Harrod's copy is in HCN Offprints, accompanied by a Ts note, dated 28 December 1936, "With Mr. A. Loveday's Compliments."

    2. See letter 364 , and the correspondence which followed.

    3. Part I consisted in a Systematic Analysis of the Theories of the Business Cycle (1934), part II in a Synthetic Exposition Relating to the Nature and Causes of Business Cycles. The former was sent to all the living authors quoted by Haberler, while the latter was circulated among a smaller group of economists (see Loveday's article cited in note 1 , p. 159. According to a list preserved in the League of Nations archives, dated 29 June 1936, it would seem that the group consisted of Oskar Anderson, from Sofia; J. M. Clark; Léon Dupriez, Alvin Hansen, Oskar Morgenstern, Bertil Ohlin, Charles Rist, Lionel Robbins, D. H. Robertson, J. Tinbergen, and W. Röpke. Mitchell and Schumpeter, listed as "not certain", were eventually crossed out. In LoN 10B/21852/12653). Haberler's study was eventually published as Prosperity and Depression (1937).

    4. Harrod, The Trade Cycle ( 1936:8 ).

    1. a. ALS, two pages on one leaf, in LoN file 10B.12653.12653/68. Stamped as received on 9 January.

      b. Ms: «entitle».

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