Borrowing and business in Australia

Bibliographic data

Monograph

Identifikator:: 183051623X

URN:: urn:nbn:de:zbw-retromon-222122

Document type:: Monograph

Author:: Wood, Gordon L. http://d-nb.info/gnd/1239193688

Title:: Borrowing and business in Australia

Place of publication:: London

Publisher:: Oxford university press, H. Milford

Year of publication:: 1930

Scope:: xv, 267 Seiten; graph. Darst.

Digitisation:: 2022

Collection:: Economics Books

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xiv INTRODUCTION concentration of a spearhead of investigation upon a major economic problem has yet been attempted. The greatest need in all scientific research is the comparison of results, and particularly of the negative results. But the story of failures in the attempt to correlate results never gets into print, and can, perhaps, only be obtained by some extension of the method of international conference, applied to workers drawn from a very wide terrain. Some attempt is needed to unify the whole economic problem presented by the international investment of capital, and to give more effective direction to the conduct of research into the many issues involved. A third desideratum which is worthy of notice affects the domestic sphere, and has reference to the relation between public and private expenditure. The pressure under the dis- jointed methods of investigation pursued in the past has been very uneven over the whole economic field, and this varia- tion in the intensity of investigation is particularly noticeable in finance. Production and distribution have been heavily weighted, consumption too lightly regarded in many respects. Especially is this so in the matter of private expenditure. Little but vague generalization has been formulated concerning the effect of borrowing, for example, upon community spending; and yet, in its wide aspect, this is as fundamental as the con- sideration of public expenditure. Scientific research is essential over the whole field of national finance, and it is to be forecast that the next great advance in economic theorv is likely to take place along those lines. The principle of the net economic balance must be applied to all questions of this character; and, in general, it may be remarked that considerations affecting this aspect have, in this essay, been kept rigorously in the forefront of discussion. To those acquainted with the work of Taussig upon problems of inter- national trade and of Viner upon the special problem of Canada, therefore, no apology will be necessary for the attempt to apply their technique within the limits imposed by Australian con- ditions and statistics. The patient elimination from a field of total possibilities is, perhaps, not possible in its entirety to any individual researcher, and within the limits of a thesis little can be said concerning the purely negative results ; but the foregoing are, at any rate, the main considerations which have prompted

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