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Even if Heckscher is right in saying that originality in economic theory was on the whole lacking among eighteenth-century authors and pamphleteers, two exceptions at least must be made to this generalization. N. Christiernin and his works of the 1760s, but A. 18 The works of both these authors were published during periods when Sweden’s currency was in disarray. e. during the ‘credit-note epoch’, as it has been termed. e. the fall in the value of Swedish currency abroad, and the means by which to correct the situation.

Norstedt & Sons, Stock-holm. T. (1971) Den akademiska friheten under frihetstiden, Uppsala. Swedenborg, E. (1722) Oförgriplige tankar om myntets uphöjande och nedsåttande. Quoted from reprinted edition, Edman, Uppsala 1771. 32 3 THE EXISTENCE OF A P O S I T I V E R AT E O F INTEREST IN A STATIONARY STATE: A WICKSELLIAN ENIGMA Björn Hansson INTRODUCTION This essay analyses the following Wicksellian enigma: Is it possible that capital, under stationary conditions and neutral time preferences, can be a permanent source of income, that is to say can a positive rate of interest exist in a stationary state?

12 E C O N O M I C T H O U G H T I N T H E E I G H T E E N T H C E N T U RY 9 Scheffer (1770, p. 48, XXVI) and Heckscher (1949, II: 2, p. 874). 10 A. Wappengren, cited in this chapter as an original economic theoretician, presented certain physiocratically inspired ideas in Grunderne till den Borgerliga Hushållningen (Foundations of Civic Housekeeping), 1798. These lack scholarly value, however; see Heckscher (1943, p. 15; 1949, II: 2, p. 875) and Herlitz (1974, p. 9). 11 Chydenius (1765), Den Nationnale .

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Anatomy Of A Market Crash - A Market Microstructure Analysis Of The Turkish Overnight Liquidity Crisis by Danielsson, Saltoglu


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