Interest, Growth & Inflation (Fraser Publishing Library) [Paperback]

John Burr Williams (Author)

Book Description

Publication Date: December 20, 1998

The author develops a macroeconomic theory of the market economy based on an empirical description and financial analysis at the microeconomic level. He describes various classes of borrowers, lenders, and market mediators and the special characteristics of each that influence the demand and supply for loans.

Paperback. 240 pages.

Editorial Reviews

About the Author

John Burr Williams launched his career as a security analyst in a prominent Boston financial firm. He established himself as an expert financial consultant while working continuously and successfully on his own account. He was motivated by an obsessive need to understand the world around him in terms of general principles and so he became a student of economic theory. He associated himself with several of the most important theorists of the time including Joseph Schumpeter, Alvin Hansen and Wassily Leontief. Scholarly work occupied much of his time and energy. His first book, The Theory of Investment Value, based on his Ph.D. thesis and first published by the Harvard University Press, has long been regarded as a classic in financial literature.

Product Details

• Paperback: 240 pages
• Publisher: Fraser Publishing Co. (December 20, 1998)
• Language: English
• ISBN-10: 0870341316
• ISBN-13: 978-0870341311
• Product Dimensions: 8.7 x 7.5 x 0.7 inches
• Shipping Weight: 1.1 pounds
• Average Customer Review: 5.0 out of 5 stars  See all reviews (2 customer reviews)
• Amazon Best Sellers Rank: #2,553,440 in Books (See Top 100 in Books)

Customer Reviews

Most Helpful Customer Reviews

2 of 2 people found the following review helpful:

5.0 out of 5 stars Most Underrated Economist Ever, October 15, 2010

By 

Edward M. Lee - See all my reviews
(REAL NAME)   

This review is from: Interest, Growth & Inflation (Fraser Publishing Library) (Paperback)

This small book is so rich in insight and elegant in expression. This is the man who predated the M&M theorem, and gave proof of it in 2 sentences. I really felt I had a better grasp of economics, and its intuition, particular to the US with dominating mortgage-market.

One thing I found intriguing was how he injects a little of his own perspective and recollection through economic cycles: from the depression era when he was working on his Doctorate at Harvard, through more recent times.

His thinking is refreshing and different. He considers an alternative theory of interest based on inner workings of the banking industry, mortgage market, and very visceral market mechanisms (vs expectations hypothesis, liquidity hypothesis etc etc..)

His theory of interest is uncanny and portent over many decades of falling rates, and housing bust.

As it relates to today I think my personal conclusion would be long-rates should continue to fall beyond 2010 (I personally think close to zero real-rates), and before mortgage loan-growth recovers, and before long-rates rise again. The theory is interesting. I've done well for myself so far this year (but others may interpret contemporaneous data differently).

Besides, you should find the nuggets of insight plentiful and profound. Over any textbook, I'd recommend this for any person interested in how the capital markets work, Economics and Finance.

2 of 2 people found the following review helpful:

5.0 out of 5 stars The 3 Warren Buffet mentors, August 30, 2007

By 

Masterinvestorollie "Olivier" (Brussels Belgium) - See all my reviews

This review is from: Interest, Growth & Inflation (Fraser Publishing Library) (Paperback)

Undispensable steps to become a master in value investings : John Burr Williams is one of the Warren Buffet's 3 mentors.