Accumulation and Growth in Effective Demand

Paul Davidson

Chapter Chapter 5 in Money and the Real World, 1978, pp 111-139 from Palgrave Macmillan

Abstract: Abstract If the process of accumulation is to be left to free and independent decisions of firms operating in a market-oriented, monetary economy, then continuous steady rates of growth require that entrepreneurs (a) expect constant rates of growth in effective demand over time, and (b) these expectations are not disappointed.1 In reality, of course, these provisions are not likely to be continually met, but at an early stage of analysis it may be useful to explore the circumstances that would be necessary to bring these conditions about.

Keywords: Capital Good; Aggregate Demand; Full Employment; Aggregate Supply; Effective Demand (search for similar items in EconPapers)
Date: 1978
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DOI: 10.1007/978-1-349-15865-2_5

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