Accumulation and Effective Demand

Lord Robbins

Chapter Lecture Three in The Theory of Economic Development in the History of Economic Thought, 1968, pp 44-69 from Palgrave Macmillan

Abstract: Abstract In this lecture I propose to deal with capital accumulation and its role in the history of the theory of economic development. At first sight this might seem to be a banal theme to occupy the greater part of a lecture. In the present phase of affairs we are so used to regarding accumulation as a good thing and ample capital provision as an almost indispensable prerequisite of development, that it might be thought that, so far as history is concerned, the only thing to do is to discover the man who first said so and then to take note of non-stop applause from that date to the present day.

Keywords: Political Economy; Capital Stock; Fixed Capital; Effective Demand; General Glut (search for similar items in EconPapers)
Date: 1968
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DOI: 10.1007/978-1-349-00149-1_3

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