Demand Saturation and Economic Growth—Where Keynes and Schumpeter Meet

Hiroshi Yoshikawa ()
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Hiroshi Yoshikawa: University of Tokyo

Chapter Chapter 5 in Reconstruction of Macroeconomics: Methods of Statistical Physics, and Keynes' Principle of Effective Demand, 2022, pp 113-140 from Springer

Abstract: Abstract This chapter advances the thesis that demand plays a crucial role not only in the short run but also in the long-run process of economic growth. The reason is that in advanced economics, demand saturation is the fundamental factor constraining growth and that the engine of growth is demand-creating innovations.

Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:spr:advchp:978-981-19-5264-7_5

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DOI: 10.1007/978-981-19-5264-7_5

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