Volume 29, Number 14 · September 23, 1982
Going for Broke
By Jason Epstein
The Coming Boom: Economic, Political, and Social
by Herman Kahn
Simon and Schuster, 237 pp., $14.95
The Imperious Economy
by David P. Calleo
Harvard University Press, 265 pp., $17.50
Whatever Herman Kahn may have intended when he and his associates compiled these 'seminar notes, papers, recorded briefings and assorted dictations,' the desire to make himself intelligible cannot have been much on his mind. For example, when he wants to say that prices are a function of supply and demand as well as of interest rates and inflationary expectations, he writes, 'Thus, the value of money (or the price level) is related to the availability of GNP (goods and services) and the supply of money, the price of money (i.e., the interest rate is related to the supply and demand for credit), and the likelihood of changes in the value of money.'
Review, 4227 words
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