PART IV. THE RECONCILIATION OF STATICS AND DYNAMICS
Reading edition
PART IV. THE RECONCILIATION OF STATICS AND DYNAMICS
CHAPTER XXV THE RECONCILIATION OF STATICS AND DYNAMICS
Theory of money as focus of general economic theory, exhibiting interdependence of doctrines; basis of further unification of statics and dynamics in higher synthesis547-548
Statics vs. dynamics, normal vs. transitional, and related contrasts; illustrations; divergent lines of doctrine: tariffs, wars, overproduction, extravagance, etc.548-552
Statics quantitative; dynamics qualitative552-553
Statics and dynamics both abstract553-554
Dynamics and "friction"554-555
"Theory of prosperity" and dynamics555-556
Statics and cross-section analysis; statics as price-theory; dynamics as value-theory556-560
Generalization of statics: price-theory applied to dynamic phenomena: capitalization; costs; "taxonomy;" "discounting" dynamic changes; money the static measuring-rod: wide scope of money-measure; measurement of non-economic values560-569
Generalization of dynamics: all values, whether of wheat or "good will," have social psychological explanation; technological and biological factors, and the static equilibrium; business cycles569-575
Business man vs. economic theorist, and value-theory; manipulation of values and prices575-578
Statics and time578-580
Immaterial capital580-582
Statics and dynamics have not different subject-matter583-586
Equilibrium of all social values: statics and dynamics of the law: social forces and social control586-589
Summary of Part IV589-591