Famous British economist hicks and others argue that the above theory did not consider the factor of income, and therefore unable to determine the level of interest rates, in 1937, and puts forward the is-lm model on the basis of general equilibrium theory. It establishes a theory of interest rates and income at the same time that the four factors of savings and investment, money supply and monetary demand interact. But to increase political accountability and to sacrifice the independence of the central bank is to throw the baby out of the bath. Monetary policy is complex and technical. Handing control to politicians is more prudent than handing over keys to the country's nuclear power plants. previously warned: "positions are too crowded to cause some pain." 3. The role of securities investment Jstor: Jstor features a tremendous extent of scholastic diaries filtered into its databases, about-facing numerous years to give for your requirements the particular best research in humanities, sciences and numerous different controls. To get to Jstor you should be on your own college organize, or logged in remotely into it with whether staff or scholar ID.