A Reconsideration of Keynes' Finance Motive*

Keynes' finance motive is a much neglected part of monetary theory. This paper reassesses the meaning and importance of the finance motive and examines the distinction between it and the transactions motive. A specification of the demand function for money is proposed that takes account of the finance motive. The advantages of this specification for analytical and empirical purposes are explained. Finally, it is shown that this specification provides a satisfactory theoretical explanation for the evidence on timing between the real and monetary sectors; evidence thought by some to be inconsistent with Keynes' theory of liquidity preference.     

Toward Consumer Efficiency: A Model for Improved Buymanship

This paper suggests that changes in the economic, marketing, and social environments call for alternative approaches to the traditional models of buymanship. The authors propose a shopping model that incorporates four main tenets: (1) search is conceived as a continuous process; (2) consumers take advantage of retail price competition at one point in time and over time; (3) an acceptable set of brands and stores is integral to purchase decisions; and (4) low price on an acceptable brand triggers purchase. Implications for consumer buying, research, and consumer education are identified.     

Comparative study of phosphate and non-phosphate detergents

A comparison of three different detergents was made by evaluating their properties of soil removal, soil redeposition and calcium carbonate deposition. The detergents included a phosphate granular detergent, a non-phosphate, carbonate built granular detergent and an unbuilt liquid detergent. The local water conditions were moderately hard and clay type soils were used. Detergency was evaluated on the basis of both visual and instrumental colour changes. In effecting soil removal, clay stained fabrics laundered with the phosphate detergent retained only a small amount of soil, while fabrics laundered with the two non-phosphate detergents showed heavier staining. In preventing soil redeposition, the phosphate detergent produced almost no visible redeposition; the unbuilt and carbonate built detergents ranked correspondingly lower. In assessing calcium carbonate deposition, the phosphate and unbuilt detergents showed little or no change, while the carbonate detergent continued to build up deposits with laundering. In summary, the phosphate detergent ranked highest in overall performance, with correspondingly lesser performance from the unbuilt and carbonate detergents.