On Differential Rates of Interest- A Further Comment

WITH the views on either side having been fairly explicitly presented, the debate on differential rates of interest has almost run its course. There is a danger of obfuscation without enlightenment if it is pursued indefinitely. If I have still decided on this short further comment on A K Das Gupta's latest note (August 26, p 1802), it is because an important area of knowledge has been laid bare by the latter. It is that there can be no neutral 'analytical' approach to economic issues; what he refers to as 'preference for rational conduct' is in fact an outcome of one's system of values.