A selected bibliography of the writings of others is given in Appendix III of Booms and Depressions, ... This bibliography omitted Veblen's Theory of Business Enterprise, ...Chater VII of which, Professor Wesley C. Mitchell points out, probably comes nearest to the debt-deflation theory. Hawtreys' writings seem the next nearest. Professor Alvin H. Hansen informs me that Professor Paxson, of the American History Department of the University of Wisconsin, in a course on the History of the West some twenty years ago, stressed the debt factor and its relation to deflation. But, so far as I know, no one hitherto has pointed out how debt liquidation defeats itself via deflation nor several other features of the present "creed". If any clear-cut anticipation exists, it can never have been prominently set forth, for even the word "debt" is missing in the indexes of the treatises on the subject.
