§9. Conclusion

In the study of such a complex and many-sided problem as that of the rate of interest, it is natural (and in fact, very desirable) that there should be many different approaches, views, and methods. Unfortunately, however, this latitude for individual interpretation and analysis has many times invited misunderstanding, confusion, and magnification of non-essential differences.

I have attempted to set forth and analyze in this chapter those matters contained in the criticisms of The Rate of Interest which, to my mind, are of major importance, and concerning which there still exists considerable disagreement among students of the interest problem.

Many of these questions seem to me to be based on misunderstandings of my theory of interest. I have been greatly helped by criticisms of this kind to see the shortcomings of my first attempt to expound that theory. I am hopeful that my present efforts to set forth in sharper relief and with greater clarity one solution of the problem Edition: current; Page: [492] of interest will succeed in subordinating these secondary matters to the more important issues of fundamental theory.

This done, I am confident that economic theorists will find that they are not so far apart on matters of fundamental theory as their writings would seem to indicate. When mutual understanding is achieved, they will undoubtedly find that their differences are often more apparent than real, consisting chiefly in the methods of approach and of analysis.

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