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]

  1. 1. Harrod's enquiry might have aimed at gathering information in view of the preparation of his essay on "Interest and Ideal Prices" (here as essay 1 ).

    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.

    1. a. From C.s.M., Glastonbury, ALI, one page, in HPBL Add 71613/10.

     

    See full transcription (Bonus section)

 


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