ABSTRACT
In his book Penningpolitikens mal (The Goal of Monetary policy, 1924; revised edition in 1929) Lindahl set up norms for regulating the price level. These norms were related to the overriding aim of monetary policy, namely, "to less~n the risks, which not completely anticipated events imply for the economic activity, and thereby lead to a minimum of disturbances inside the economic life" (Lindahl 1930, p. 7, italics omitted). The Rate of Interest is related to the earlier book in the sense that he now "investigates those problems which are connected with the realization of the two norms for the value of money, discussed in the earlier work, namely, an unchanged level of price and the regulation of the price level in inverse proportion to productivity" (ibid., p.S;cp. p.9), i.e. the means of fulfilling the norm; and consequently the Swedish title of The Rate of Interest is The Means of Monetary Policy.
