Book Reviews : An American Epic, Volume I. By HERBERT HOOVER. (Illinois: Henry Regnery, 1959. Pp. xxiii, 477. $6.50.)

• Date: 01 September 1960
• DOI: 10.1177/106591296001300327
• Published date: 01 September 1960
• Subject Matter: Articles

814

raised

by

such

theorizing.

Another

book

dealing

with

empirical

evidence

with

respect

to

these

questions

is

in

preparation

by

the

authors.

Money

in

a

T heory

o

f Finance

will

appeal

to

only

a

limited

audience.

It

would

be

quite

useful

at

the

intermediate

theory

level

as

an

economics

text

serving

as

an

introduction

to

the

neo-classical

Keynesian

controversy

of

Hicks,

Johnson,

Robertson,

Robinson,

Patinkin,

Modigliana,

Lerner,

Pigou,

et

al.

Train-

ing

in

economic

theory

up

through

general

equilibrium

analysis

should

precede

the

use

of

the

volume

as

a

text.

The

book

is

clearly

written.

The

style

is

lucid

though

repetitive.

Repeti-

tion

may

be

useful

in

this

kind

of

technical

model-building

at

the

verbal

level.

The

argument

is

meticulously

developed

and

technically

sound.

Each

section

is

clearly

summarized.

The

discussion

is

nonmathematical.

Those

who

enjoy

neo-classical

model-building

should

relish

this

book.

In

an

appendix,

Alain

C.

Enthoven

presents

a

neo-classical

model

of

Money,

Debt,

and

Economic

Groauth

in

mathematical

form.

This

is

not

an

essential

part

of

the

book.

With

neo-classical

assumptions

the

model

demonstrates

that

instability

is

not

intrinsic

in

the

process

of

economic

growth.

This

is

akin

to

the

growth

models

of

Tobin

and

Solow.

Such

&dquo;growth&dquo;

models

have

little

interest

for

this

reviewer.

Attention

is

diverted

from

the

more

interesting

problems

of

real

limits

on

profitable

investment,

cyclical

instability,

and

secular

stagnation.

The

growth

models

of

Harrod,

Domar,

Hicks,

Eisner

and

Hamberg

seem

much

more

interesting.

JOSEPH

S.

PEERY

University

of

Utah

An

American

Epic,

Volume

I.

By

HERBERT

HOOVER.

(Illinois:

Henry

Regnery,

1959.

Pp.

xxiii,

477.

$6.50.)

A

valuable

collection

of

documents

dealing

with

an

almost

forgotten

inci-

dent

of

history

collected

and

edited

by

a

man

who

knew

it

well.

K.

W.

T.

Controls

for

Outer

Space.

By

PHILIP

C.

JESSUP

and

HOWARD

J.

TAUBENFELD.

(New

York:

Columbia

University

Press,

1959.

Pp.

xi,

379.

$6.00.)

First

Colloquium

on

the

Law

of

Outer

Space

:

The

Hague

1958

Proceedings.

Edited

by

ANDREW

G.

HALEY

and

DR.

WELF

HEINRICH

PRINCE

OF

HANOVER.

(The

Hague:

1959.

Pp.

iv,

126.

$4.50.)

As

if

the

world

were

not

confronted

with

troubles

enough

already,

here

are

two

highly

disconcerting

but

sober

and

important

books

to

persuade

us

that

the

challenges

to

man

and

his

survival

have

barely

begun.

Appearing

as

one

of

the

Columbia

Univeristy

Studies

in

organization,

the

Jessup

and

Taubenfeld

volume

proceeds

upon

the

premise

that

whereas,

up

until

now,

the

world

has

experimented

with

only

limited

examples

of

suprana-

tional

institutions,

recent

technological

advances

may

soon

or

may

already

have

made

such

conservatism

&dquo;politically

or

strategically

obsolescent.&dquo;

The

book

is

not