2,793 works, 150 years of economic thought. Each one summarized and searchable, with cited passages inside.
Reserved from the first part were money, capital, and interest; the second volume takes them up. Engländer opens with money 'without intrinsic value,' deriving the total sum of prices from quantity, true cash reserves, market frequency, and velocity, and rejecting any appeal to the marginal utility of fiat money. He then argues that a purely cashless economy of book transfers is theoretically possible, and that bank book-credit does not itself create capital but frees idle reserves. The capital theory works upward from a single-stage economy of capitalists and workers to multi-stage and free-stage production, bounding the interest rate between the highest 'provision number' and the lowest 'sacrifice number' while denying that the productivity of roundabout methods explains interest at all. Cycles, he concludes, are not the inevitable fate of capitalism if saving is properly timed.
Nehmen wir nun noch den Fall eines Barerlages bei einer Bank, und zwar zu bloßen Verwahrungszwecken, so ergibt sich die Möglichkeit, daß die Bank diese bei ihr erlegten Gelder weiterverleiht.
English translation: “If we now consider further the case of a cash deposit at a bank, and indeed one made merely for safekeeping purposes, the possibility arises that the bank lends out these funds deposited with it.”
Knowing where a tax truly lands, this 1935 treatise argues, must precede any judgment of tax policy. Engländer separates two domains of public finance—general tax theory and the theory of tax shifting—and grounds the obligation to pay not in any equivalence between tax and state service but in the value of the organized community itself. Tracing incidence through his own price theory, he reaches a pointed conclusion: a consumption tax does not merely burden consumers but, by curbing their spending elsewhere, drives down other producers' returns until it merges with the workings of direct taxation. From the Bernoulli-Bentham law of sacrifice he derives progressive rates and exemption of the subsistence minimum, then rejects every single-tax scheme in favor of a system that combines direct and indirect taxes to satisfy competing principles at once.
Nicht die Kaufkraft der Einkommen vermindert sich, sondern indem ein besonderes Staatseinkommen aus Steuern auftritt, vermindern sich die anderen Einkommen.
English translation: “It is not the purchasing power of incomes that diminishes; rather, as a distinct state income from taxes arises, the other incomes diminish.”