Letter from Felix Schafer (9 August 1948)

Text in English to type

[3] Many thanks for your letter of 7-7-48. I started the answer immediately. Above all I hope that we remain in touch which each other, and that I shall have permanently have your guidance and criticism, the more, the better. In order to make things easier for you I enclose a typed copy of the letter you wrote me. Thus you have now my letter of 26-6-48, your answer of 7-7-48 a copy of which is enclosed, and my reply to it.

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1. The arrangement (Difference between "E.E”, "P.P.E. in wider sense” and “P.P.E. in narrower sense””

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[4] […]

2. P.P.E. in narrower means self-regulation, pure competition and purchasing power

(a) P.P.E. wants purchasing power

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(b) P.P.E. in narrower sense means self-regulation

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(c) P.P.E. in narrower sense means pure competition

[…] [5]

(d) Spme Conclusions

[6]

3. P.P.E. in narrower means self-regulating business cycle

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4. Business cycle vs Controlled Trend

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5. Keynes vs Pigou (classics)

Keynesian economics may […]

(a) The Day of Judgment

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(b) The psychological factors preventing a fall of the rate of interest

[7]

6. Full Employment

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7. Summary

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Letter Informations

KPA: 58/10, 3-7