Controversy on interest rate

["Kazuhiro Kurose" <kurose@xxxxxxxxxxxxxxxxxxxxxx>]

After the publication of GENERAL THEORY, the controversy on interest rate was arisen concerning to two points. In other
words, first was whether the interest theory of liquidity preference is equivalent to that of loanable fund, and second
was whether which is preferable if the first point should be rejected.
According to my survey, prominent proponents to the first point were Fellner and Somers, Patinkin, who argued that both
theories were same, and that, as for the second point, both theories were indifference. On the contrary, prominent
opponents to the first point were Klein, Scitovszky, who argued that the former theory is different from the latter, and
that, as for the second point, interest theory if liquidity preference is preferable.
However, I don't know whether the controversy was clinched or it has been come to an end without any agreements.
Then if someone knows the appropriate book or paper on the controversy, I would like you to tell me.

Sincerely

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  Kazuhiro Kurose
  Graduate School of Economics and Business
  Administration, Hokkaido University
  Kita 9 Nishi 7, Kita-Ku, Sapporo, Japan
  060-0809
    TEL: +81-11-716-2111 ex:2786
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