haku: @author Palley, T. / yhteensä: 3
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Tekijä: | Palley, T. |
Otsikko: | Aggregate demand in a reconstruction of growth theory: the macro foundations of economic growth |
Lehti: | Review of Political Economy
1996 : JAN, VOL. 8:1, p. 23-35 |
Asiasana: | ECONOMIC GROWTH THEORIES DEMAND |
Kieli: | eng |
Tiivistelmä: | Keynes's General Theory introduced the concept of demand determined equilibrium. Although traditionally interpreted as only relevant for short-period analysis, it has important implications for growth theory. Harrodian growth theory recognized this significance, but neo-classical reinterpretations of Harrod suppressed this influence. Reconstructing a Keynesian theory of growth requires restoring aggregate demand within the growth process. however, it is not sufficient to represent aggregate demand within the growth process. |
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