The issue is crucial however only in the second case where
the formulation of the acceleration principle tends to lead to
excessive instability, whereas in the fi rst dase the
marginal formulation - i.e. representing all the financial
influence by the savings rate of the last period - is
an acceptable simplification, justified by the aim of leaving
out all cmmplications which are not essential to the working of
the trade cycle.
I think for that reason that it will be a help to the
reader if I simply leave out all mention of the "financial"incentives
in this section and talk only about the demand incentive.
I have cut >ut the superfluous passages and I send you enclused
the corrected version if p 11 with a few mimr changes on top of p. 12.
I hope you will find these changes useful
With best wishes,