Mr. Keynes's Control Scheme

Mr. Keynes holds that control of the business cycle should be directed tow ual to the long-term natural rate keeping the long-term market rate of interest equal saving and investing. The of interest so as to maintain an equilibrium olled by regulating the short-term interest tem market rate may be indirectiy con le the work of Mr. W. W. Riefler te The chief basis for Mr. Keyness cs When Mr. Riefler's charts are brought which is reprinted in his Treate onlationshin between the long and short-term down to date there is evidence th insisted. Moreover, the economic develop rates is not as precise as Mr.e like behavior of the long and short-term ments of the past five years support the rates. Therefore Mr. Keynes's proposal is of doubtful worth.