Book Review: Effective Demand and Income Distribution: Issues in Alternative Economic Theory

1988 ◽  
Vol 20 (4) ◽  
pp. 151-153
Author(s):  
Peter Skott
Keyword(s):  
Economic Theory ◽  
Income Distribution ◽  
Effective Demand

scholarly journals Znaczenie efektu Cantillona w teorii ekonomii

Ekonomia ◽  
2016 ◽  
Vol 22 (3) ◽  
pp. 9-25
Author(s):  
Arkadiusz Sieroń
Keyword(s):  
Economic Theory ◽  
Income Distribution ◽  
Business Cycle ◽  
Public Choice ◽  
Empirical Data ◽  
Central Banking ◽  
Price Bubbles ◽  
Wealth Inequalities

The Role of Cantillon Effect in EconomicsThe aim of this article is to examine the role of the Cantillon effect in economics. The literature of economic theory lacks the detailed discussion of the implications of the first-round effect for economics. This paper attempts to fill this gap. The article is mainly theoretical, but considerations presented are illustrated by relevant empirical data. Based on the analysis, the author concludes that the effect of Cantillon develops particularly the theory of money and inflation, the theory of banking and central banking, the theory of business cycle and price bubbles, the theory of income distribution and income and wealth inequalities, and the theory of public choice.

James Meade's Liberalism

2012 ◽  
pp. 61-74
Author(s):  
Roger E. Backhouse
Keyword(s):  
Economic Theory ◽  
Income Distribution ◽  
Market Economy

James Meade described himself as a liberal and used the term neo-classical to describe his economic theory but unlike many liberals he sought to improve the market economy. This paper explores Meade's liberalism through analyzing his writings on planning, the market, justice and income distribution, concluding that he is best described, somewhat paradoxically, as a pragmatic visionary.

Overview of Global Development Patterns

2014 ◽  
pp. 1-23
Keyword(s):  
Economic Growth ◽  
Economic Theory ◽  
Income Distribution ◽  
Growth Trajectory ◽  
Future Trends ◽  
Global Development ◽  
Growth Trends ◽  
Development Patterns ◽  
Growth Convergence ◽  
Global Growth

This chapter introduces readers to growth economies and discusses why studies on economic growth are important. It proceeds to identifying global growth trends in the last four decades and provides a summary of world's income distribution. A concise survey of the convergence debate (which seems to have lost its prominence now) is also presented. The summary of some influential studies on income and growth convergence, however, states that the world's incomes have largely diverged, although convergence has been noted in at least two pockets of countries. Because the details are presented later in the text, only a brief summary of how theoretical economists view “sources of growth” is presented here. This chapter concludes with a discussion on the future trends in economic theory and global growth trajectory.

Concluding remarks

2019 ◽  
pp. 180-186
Author(s):  
Kazimierz Łaski
Keyword(s):  
Economic Theory ◽  
Great Depression ◽  
Full Employment ◽  
Supply Side ◽  
Financial Instability ◽  
Effective Demand ◽  
Quantity Theory ◽  
Fiscal Austerity ◽  
Supply Side Factors ◽  
Advanced Capitalist

Since 2008 the most advanced capitalist countries have suffered financial instability and mass unemployment, often likened to the catastrophic Great Depression of the 1930s. Which economic theory can better explain the root causes of the crisis, the practical moves that can be designed and implemented by governments to contain the crisis and better guidance to prevent such crises in the future? The theory advanced by Kalecki and Keynes, emphasizing effective demand in the economy, or the mainstream theory that rests on supply-side factors in output and employment, fiscal austerity, and a quantity theory of money approach to prices? The latter theory has brought the misery of unemployment and instability. Full employment depends upon a return to the theory of Kalecki and Keynes.

Sign in / Sign up

Export Citation Format

Share Document