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By S. Frowen

This quantity comprises the correspondence among G.L.S. Shackle and S.F. Frowen from the time Shackle took up his first post-war educational appointment until eventually his loss of life in 1992. The correspondence, in part own and partially specialist, unearths an important perception into Shackle either as a guy and as a superb economist.

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Extra info for Economists in Discussion: The Correspondence Between G.L.S. Shackle and Stephen F. Frowen, 1951-1992

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Your Introduction will be an indispensable guide to readers of my translation. I am glad to see you stressing the link between Böhm-Bawerk and Wicksell’s concern with the theory of capital in Value, Capital and Rent, resulting in Wicksell’s concept of the ‘natural rate of interest’. Thus the explanation whether interest rates charged on bank loans are too high or too low could now thanks to Wicksell be seen in their relation to the level of the natural rate of interest. Based on this is Wicksell’s explanation of the link between the quantity of money and the general price level – which you so aptly describe as Wicksell’s greatest theoretical achievement.

3 1st February 1953 Dear Professor Shackle, I really do not know how to thank you for the great trouble you have taken in reading my MS so carefully and for having made so many most valuable and important corrections and improvements. I only hope that it was not too great a strain to do all this work during your convalescence. Please forgive this delay in answering your letter of January 20th. I was just setting out for London to take up my new appointment there, and I did not want to answer until I could do so at leisure and reply in detail to various points, which you had raised.

I should of course like to send you the remaining part of the MS. as soon as it is ready, but I am afraid that, as a result of your two illnesses, so much of your own work may have accumulated that you may have difficulty sparing the time. Once again, with many thanks, and kindest regards, Yours sincerely, Stephen Frowein 24 University of Liverpool Department of Economics 11 Abercromby Square Liverpool 7 17th March 1953 My dear Frowein, Do by all means send me the rest of your manuscript. I should be very disappointed not to see it.

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