CHAPTER XXV. The Reconciliation of Statics and Dynamics

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 synthesis 547-548

Statics vs. dynamics, normal vs. transitional, and related contrasts; illustrations; divergent lines of doctrine: tariffs, wars, overproduction, extravagance, etc. 548-552

Statics quantitative; dynamics qualitative 552-553

Statics and dynamics both abstract 553-554

Dynamics and "friction" 554-555

"Theory of prosperity" and dynamics 555-556

Statics and cross-section analysis; statics as price-theory; dynamics as value-theory 556-560

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 values 560-569

Generalization of dynamics: all values, whether of wheat or "good will," have social psychological explanation; technological and biological factors, and the static equilibrium; business cycles 569-575

Business man vs. economic theorist, and value-theory; manipulation of values and prices 575-578

Statics and time 578-580

Immaterial capital 580-582

Statics and dynamics have not different subject-matter 583-586

Equilibrium of all social values: statics and dynamics of the law: social forces and social control 586-589

Summary of Part IV 589-591