T. W. Swan: “The Theory of Suppressed Inflation”

Peter L. Swan ()
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Peter L. Swan: UNSW (Sydney)

Chapter Chapter 11 in Trevor Winchester Swan, Volume I, 2022, pp 263-291 from Palgrave Macmillan

Abstract: Abstract “When a further increase in the quantity of effective demand produces no further increase in output and entirely spends itself on an increase in the cost-unit fully proportionate to the increase in effective demand, we have reached a condition… of true inflation”. This is Keynes’ definition of the point at which “inflation” begins; it corresponds with his definition of the point of “full employment”.

Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:pal:pshchp:978-3-031-13737-2_11

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DOI: 10.1007/978-3-031-13737-2_11

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