Re: Investment Cycles and Vel. of Circulation

["ING. FELIPE BELLO" <fbellog@xxxxxxxxxxxxxxxxxxxxx>]

Dear Jerry:

Today in the moring I assisted to a seminar which was imparted by Julio
Lopez, from the Universidad Nacional de Mexico.

I talked with him about your work and he told me that he had met you at
Knoxville last year. I told him about your book and he told me that he told
me that he was rushing to adquire it.

Maybe it is not important, maybe it is; but, I am certainlly happy that
somebody else from my country is following your work.

Best regards,

Felipe Bello

----------
> From: Jerry Courvisanos <Jerry.Courvisanos@xxxxxxxxxxxxxxxx>
> To: POST-KEYNESIAN THOUGHT   <pkt@xxxxxxxxxxxxxxxx>
> Subject: Investment Cycles and Vel. of Circulation
> Date: Martes 17 de Diciembre de 1996 12:47 AM
>
> Dear PKTers,
>
> Greetings from Launceston, Tasmania, Australia.
>
> INVESTMENT CYCLES
>
> I have recently moved to this place from Sydney. It has taken me some
time
> to get organised, but I am now on the network and enjoying "meeting" all
the
> correspondents on the PKT e-mail. I met some of you at the Post-Keynesian
> Workshop in Knoxville mid-year. There was some interest at that time in
work
> I had done on the behaviour of investment cycles, which was meant to come
> out soon after in book form. Well, the book is now finally available. The
> details are set out below (with the title and sub-title a good
description
> of the work):
>
> "Investment Cycles in Capitalist Economies: A Kaleckian Behavioural
> Contribution", Edward Elgar are the publishers and it is part of the New
> Directions in Modern Economics series with Malcolm Sawyer as general
editor.
> ISBN 1-85898-410-6 (official publication date 26 December 1996)
>
> To some of you this work may be somewhat familiar in its Ph.D. form (Bill
> Mitchell are you out there!), although there have been some significant
> revisions and reductions from that work due to much sympathetic advice.
> Enough of self-promotion! I would appreciate any comments on this book
from
> all my colleagues on the PKT network.
>
> VELOCITY OF CIRCULATION
>
> A quick response to the attempts by Leigh Harkness in this same country
to
> calculate velocity of circulation with money supply data. Your attempts
may
> be admirable, but it reminds me of what Joan Robinson wrote in a
memorable
> (to me!) book review. I shall quote Saint Joan with no comment from me,
> first by noting a statement Kalecki said to her:
>
> "...'I have found out what economics is: it is the science of confusing
> stocks with flows'. It is this confusion that has kept the Quantity
Theory
> of Money alive until today. By applying V, velocity of circulation, that
is
> turnover say per week or per year, to M, the stock of money used in
> transactions in a given market, we arrive at the flow of transactions in
the
> market concerned.
>
> So what? Neither M nor V is an independent causal factor determining or
> limiting the level of prices or of output but merely an element in a
> mechanism that relates one to another." ("Shedding Darkness", Cambridge
> Journal of Ecs.,1982, p295)
>
> Thanks for letting me in your mailbox!
>
> Jerry
>
>
>
>
>
>
> Dr. Jerry Courvisanos                              Senior Lecturer
> Department of Economics                            Launceston Campus
> University of Tasmania                             Telephone: 03 63
243272
> PO Box 1214                                        Facsimile: 03 63
243711
> Launceston, Tasmania 7250
> Australia
>                     e-mail:  Jerry.Courvisanos@xxxxxxxxxxxxxxxx
>
>