Saving, Firms’ Self-Financing, and Fixed-Capital Formation in the Monetary Circuit

Jean-Luc Bailly

Chapter 5 in The Political Economy of Monetary Circuits, 2009, pp 77-97 from Palgrave Macmillan

Abstract: Abstract Despite their divergences with mainstream neoclassical thought, the immense majority of Keynesians remain strongly influenced by methodological individualism. Their analyses of the formation of macroeconomic magnitudes are still marred by microeconomic presuppositions. Further, there is no denying that Keynesians often sidestep the issue of defining macroeconomic saving, and treat it somewhat hazily as the sum of sometimes voluntary sometimes involuntary individual saving. The upshot is that the relationship between saving and investment is imprecise, indeed even confused.

Keywords: Capital Good; Consumption Good; Fixed Capital; Investment Good; Bank Credit (search for similar items in EconPapers)
Date: 2009
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-24572-3_5

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DOI: 10.1057/9780230245723_5

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