Profits, Interest and Investment: And Other Essays on the Theory of Industrial Fluctuations

266 pages including index of authors cited. Second printing of 1939 First Edition. "In the first and longest essay Hayek develops his well-known theory of industrial fluctuations beyond the point at which it was left in his Prices and Production. While the central argument of this theory remains the same, it is now restated on somewhat different and more realistic assumptions and in less abstract forms and certain important improvements are introduced. The main advance concerns the relationship between the rate of interest and the rate of profit. The other essays deal with particular problems in the same field such as demand for capital, capital maintenance, the factors governing investment, and the supply of savings. The first essay appears for the first time; the others are collected, and in part translated from various English and foreign journals in which they were originally published." - from dust jacket. Contents clean and unmarked. Light wear to red boards. Slight lean to spine which bears bright gilt lettering. Average wear to dust jacket which bears several small chips and tears, primarily at spine ends, and several small marks upon back panel. Overall a nice solid copy. Book