70R. H. F. Scott-Stokes to Harrod, 13 March 1924 [a]
Replies to a letter not found, written three weeks earlier. [1] Scott-Stokes is unable to answer with precision Harrod's queries, which seem to have regarded changes in overdrafts during good and bad trade. Scott-Stokes denies that the simple-minded manufacturer takes much note of bank-rate fluctuations within normal limits, and that he studies price-movements, as this is the merchant's job not the manufacturer's. [2]
2. This remark anticipates both themes of the Oxford Economists' Research Group's inquiry in the late 1930s. It may therefore not be casual that Scott-Stokes was the first entrepreneur interviewed by the OERG in January 1936.
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