? Rentier's hoarding ?

[Ellen Frank]

Hey Barney!  Shame on you!  Speculative 
demand for money.  General Theory, Ch 13.
"the rate of interest and the price of bonds
have to be fixed at the level at which the 
desire on the part of certain individuals to 
hold cash (because at that level they feel
"bearish" on the future of bonds) is exactly 
equal to the amount of cash available for the 
speculative-motive." (p 171)   "The concept 
of hoarding may be regarded as a first 
approximation to the concept of liquidity 
preference... the habit of overlooking the 
relation of the rate of interest to hoarding
may be part of the explanation why interest 
has been regarded as the reward of not-
spending whereas, in fact, it is the reward
of not-hoarding." (p174)

Now didn't Marx say that a miser is simply 
a capitalist gone mad?

                        Ellen
[EMAIL PROTECTED] writes:
>Ellen Frank wrote:
>
>> ... rentiers hoarding funds and businesses looking
>> to expand.
>
>I don't remember this bit.  Why would rentiers
>want to hoard?
>
>--
>Barnet Wagman
>
>email: [EMAIL PROTECTED]
>
>