Oct 13, 2022 - Sale 2617

Sale 2617 - Lot 56

Price Realized: $ 1,300
?Final Price Realized includes Buyer’s Premium added to Hammer Price
Estimate: $ 500 - $ 700
[Economics] Wicksell, Knut (1851-1926)
Geldzins und Güterpreise. Eine Studie über die den Tauschwert des Geldes bestimmenden Ursachen.

Jena: Fischer, 1898.

First edition, octavo, bound in publisher's half pebbled green cloth with title tooled in gilt on spine and patterned paper boards, illustrated with a folding graph, 9 x 6 in.

Wicksell's Interest and Prices, here in its German language original, posits the concept that prices will stay stable as long as the natural rate of interest coincides with the actual interest rate. Imbalance between these two rates causes inflation or deflation. The Austrian School of economic thought expanded on Wicksell's theory when it hypothesized that an economic boom occurs when monetary expansion causes interest rates to fall below a natural money market rate.