scholarly journals Retrospectives Lord Keynes and Mr. Say: A Proximity of Ideas

2019 ◽  
Vol 33 (3) ◽  
pp. 228-242 ◽  
Author(s):  
Alain Béraud ◽  
Guy Numa
Keyword(s):  
General Theory ◽  
Aggregate Demand ◽  
Policy Implications ◽  
Contextual Analysis ◽  
Primary Sources ◽  
Supply Side ◽  
Demand Side ◽  
Classical Political Economy ◽  
Key Issues

Since the publication of Keynes’s General Theory of Employment, Interest and Money, generations of economists have been led to believe that Say was Keynes’s ultimate nemesis. By means of textual and contextual analysis, we show that Keynes and Say held similar views on several key issues, such as the possibility of aggregate-demand deficiency, the role of money in the economy, and government intervention. Our conclusion is that there are enough similarities to call into question the idea that Keynes’s views were antithetical to Say’s. The irony is that Keynes was not aware of these similarities. Our study sheds new light on the interpretation of Keynes’s work and on his criticism of classical political economy. Moreover, it suggests that some policy implications of demand-side and supply-side frameworks overlap. Finally, the study underlines the importance of a thorough analysis of the primary sources to fully grasp the substance of Say’s message.

A Past to Present Journey

2015 ◽  
pp. 180-206
Author(s):  
Moyassar Al-Taie ◽  
Michael Lane ◽  
Aileen Cater-Steel
Keyword(s):  
Large Scale ◽  
Chief Information Officer ◽  
Supply Side ◽  
Demand Side ◽  
It Infrastructure ◽  
The Usa ◽  
Large Scale Survey ◽  
Infrastructure Services ◽  
Skilled Staff

This chapter explores the role of the Chief Information Officer (CIO). A detailed review of the existing literature traces the evolution of this role and highlights its characteristics and configurations. CIO role effectiveness can be described in terms of three demand-side roles: strategist, relationship architect, integrator, and three supply-side roles: educator, information steward, and utility provider. To explore the configuration of roles of CIOs in Australia, a large-scale survey of CIOs was conducted. The Australian results, based on 174 responses, are compared with those from similar studies in USA. The top priority for the Australian CIO was information steward, ensuring organizational data quality and security and recruiting and retaining IT skilled staff. In comparison, the first priority for the USA CIOs was utility provider - building and sustaining solid, dependable, and responsive IT infrastructure services. This study's findings have implications for CIO career development and recruitment.

scholarly journals Industrial Policy in Britain since 1970: Changing Values, Assumptions and Mechanisms

2017 ◽  
Vol 58 (1) ◽  
pp. 35-57
Author(s):  
Martin Chick
Keyword(s):  
Industrial Policy ◽  
Capital Investment ◽  
Supply Side ◽  
Demand Side ◽  
Role Of Government ◽  
Market Inefficiency ◽  
Quality Of Supply ◽  
Supply Side Factors

Abstract This article examines the change in the fundamental assumptions underpinning industrial policy from the mid-1970s in Britain. It necessarily contrasts the broadly supply-side concerns of industrial policy from the mid-1970s with the more demand-side concerns of the earlier ‘Golden Age’ period from 1945. Where in the earlier period the emphasis in industrial policy was on capital investment and the role of government in compensating for perceived market inefficiency, from the late 1970s this emphasis shifted to the need to improve the flexibility and quality of supply-side factors allied to a more optimistic view of the ability of the market to secure efficient outcomes.

Why Did It Happen?

2019 ◽  
pp. 162-191
Author(s):  
Wojciech Sadurski
Keyword(s):  
Political Culture ◽  
Institutional Design ◽  
Supply Side ◽  
Demand Side ◽  
Political Leaders ◽  
Welfare Policies ◽  
Institutional System ◽  
Law And Justice ◽  
The One

This chapter discusses the causes of Poland’s constitutional breakdown in and after 2015. On the one hand, they have an ‘agentic’ character: the role of the paranoia and anger of political leaders cannot be disregarded. In addition to such supply-side explanations, there are also important demand-side hypotheses, linked in particular to anti-elite and xenophobic attitudes, concerns and fears. As the chapter shows, in the case of Poland, the most important role is played by identity-related concerns, rather than socio-economic vulnerabilities. In turn, persistent support for the populist Law and Justice (Prawo i Sprawiedliwość (PiS)) party can be explained by its successful even if irrational welfare policies, by its effective if primitive propaganda, and by the weaknesses of the opposition. This leads to a reflection on the fragility of the institutions. As this chapter argues, partly because of its newness, partly because of faulty institutional design, and partly because of the thinness of democratic political culture among the elite and in society at large, the institutional system of Poland was ineffective in blocking anti-constitutional parties’ access to power.

A New Look at Gentrification: 1. Gentrification and Domestic Technologies

1997 ◽  
Vol 29 (7) ◽  
pp. 1275-1296 ◽  
Author(s):  
P A Redfern
Keyword(s):  
Urban Development ◽  
Zone Model ◽  
Supply Side ◽  
Demand Side ◽  
Concentric Zone ◽  
New Look

In this paper I take issue with what I identify as a basic consensus in gentrification studies. I argue that gentrification studies have been conducted within a context framed by two basic models of urban development, namely the Burgess concentric-zone model and the Alonso bid-rent model. These two models lie at the heart of what are more usually seen as the parameters of the gentrification debate, namely the ‘supply-side’ rent-gap account of gentrification offered by Neil Smith and his followers and the ‘demand-side’ consumption-oriented explanations offered by David Ley and his followers. Both sets of explanations are, however, fatally compromised by seeking to answer the question ‘why does gentrification occur?’ before answering the question ‘how does gentrification occur?’. Starting with the question ‘how?’, rather than ‘why?’, draws attention to the hitherto almost completely neglected role of domestic technologies in permitting gentrification to occur, thereby helping break the theoretical logjam in which the gentrification debate currently finds itself.

scholarly journals Pandemic turned into pandemonium: the effect on supply chains and the role of accounting information

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Ajantha Velayutham ◽  
Asheq Razaur Rahman ◽  
Anil Narayan ◽  
Michael Wang
Keyword(s):  
Supply Chain ◽  
Supply Chains ◽  
Raw Materials ◽  
Accounting Information ◽  
Supply Side ◽  
Demand Side ◽  
Content Type ◽  
Business Entities ◽  
Respiratory Devices

PurposeThe purpose of this study is to examine the disruptive effects of COVID-19 on supply chains and question the role of accounting information in managing these supply chains in the face of such disruptive effects.Design/methodology/approachThe study first explains the effects of COVID-19 on the supply chains of business entities. It then explains the role of accounting information in supply chain management, questions accounting information's ability to play such a role, and makes recommendations for better accounting disclosures and accounting research for supply chains of firms. To illustrate the salient points, a case study of Fisher and Paykel Healthcare is conducted. It identifies the risks and uncertainties of supply chains exposed by COVID-19 disruptions to businesses.FindingsCOVID-19 has affected Fisher and Paykel Healthcare from both the supply-side (upstream) and demand-side (downstream) perspectives. On the supply side, it has disrupted the supply of raw materials used in the manufacture of respiratory devices and the costs of importing such materials. On the demand side, it has disrupted market logistics and customer demand. This has subsequently affected production. Such disruptions can be overcome through the dissemination of appropriate accounting information for the different stages of the supply chain to the managers. Such accounting information can also be useful to external stakeholders for minimizing their risks.Originality/valueThe study attempts to create an awareness of the supply chain uncertainties faced by managers and stakeholders arising from exogenous shocks, such as a pandemic, and how these uncertainties can be mitigated by aligning accounting information flows with the supply chain activity flows. The observations made in this paper are at a conceptual level and, therefore, can be applied to any industry.

scholarly journals The Future of National Development Banks

2018 ◽  
Keyword(s):  
Environmental Sustainability ◽  
Best Practice ◽  
National Development ◽  
Developed Countries ◽  
Policy Implications ◽  
Economic Policies ◽  
Depth Study ◽  
Key Issues ◽  
Development Banks

The topic of national development banks was largely neglected in the academic literature for a long period, and was limited to a debate between admirers and detractors of these institutions. Since the 2007/9 financial crisis, interest in and support for these institutions have broadly increased, in developing, emerging, and developed countries alike. The key issues are understanding how such development banks work, what their main aims are, what instruments, incentives, and governance work better in general and in particular contexts, and what are their links with the private financial and corporate sector, as well as with broader government policies. This book aims to provide an in-depth study of several key cases of national development banks (in Brazil, Chile, China, Colombia, Mexico, Germany, and Peru) as well as horizontal issues such as their role in innovation and structural change, infrastructure financing, financial inclusion, environmental sustainability, the countercyclical role of development financing, and the regulatory rules that are best for these institutions. From both a research and a policymaking perspective, this book concludes that development banks can make a significant contribution to development. It analyses their roles, the link with broader economic policies, their governance, and the main instruments they use to perform their functions. The book has important policy implications for countries that have development banks, so they can improve them, but also for countries which do not yet have them, and can learn from best practice should they wish to establish them.

PROSPERITY OR STAGNATION: THE ROLE OF GOVERNMENT EXPENDITURES

2017 ◽  
pp. 1-24
Author(s):  
PAK HUNG MO
Keyword(s):  
Government Expenditures ◽  
Supply Side ◽  
Demand Side ◽  
Short Term ◽  
Role Of Government ◽  
Potential Output ◽  
Inflation Differentials ◽  
Cross Country

The focus of this paper is to examine the effects and mechanism of government expenditures (GEs) in determining the long-term inflation differentials across countries. For this purpose, we formulate a theoretical model and the related regression system. The models allow us to understand and quantify the supply-side (SS) and demand-side (DS) effects of GEs in determining prosperity or stagnation across countries. This study provides cross-country evidences and related mechanisms supporting the hypothesis and conclusion that active short-term AD policies and over-estimated potential output, as argued in Orphanides (2003), were contributive to the Great Inflation.

scholarly journals A New Tool for Supporting Innovation in Biotech Co-Innovation and the Role of Economic Developers

2017 ◽  
pp. 238-250
Author(s):  
Marina Frangioni
Keyword(s):  
Economic Development ◽  
Innovation Process ◽  
Economic Downturn ◽  
Supply Side ◽  
Demand Side ◽  
New Model

Biotech companies have been perceived has the Saint-Graal for economic development since a few years. But the economic downturn and a misunderstanding of the shift in innovation process, from a stage gate process to a user driven process placed, impairs biotech companies. Economic developer, which aims is to foster innovation to induce economic development asked themselves how to help innovation in the biotech sector to reach the market more rapidly and more efficiently. This book chapter present an overview in the innovation shift from the supply side to the demand side and propose a new model of intervention for economic developers in this new context of co-innovation.

scholarly journals ON HARROD’S NATURAL RATE OF GROWTH AND THE ROLE OF DEMAND: AN EMPIRICAL ASSESSMENT

2017 ◽  
Vol 8 (16) ◽  
pp. 22
Author(s):  
Estefanía Molerés Regalado ◽  
Ignacio Perrotini Hernández
Keyword(s):  
Economic Growth ◽  
Aggregate Demand ◽  
The United States ◽  
Supply Side ◽  
Natural Rate ◽  
Potential Output ◽  
Seminal Contribution ◽  
Actual Growth ◽  
Determinants Of Economic Growth

Starting from the seminal contribution of Harrod (1939), the current paper tests the hypothesis of endogeneity of the natural growth rate of output visà- vis aggregate demand fl uctuations for the NAFTA economies (Canada, Mexico and the United States). Empirical results show that potential output reacts to fl uctuations in actual growth rates, thus signaling that defl ation may lead to stagbilisation (stagnation cum stabilisation) as depression of both eff ective demand and employment impart deleterious eff ects on the actual rate of economic growth. Under elastic conditions of the supply-side of the economy, neglect of the role played by demand does not contribute to a better understanding of the determinants of economic growth.

Structural Change and the Role of Demand

2021 ◽  
pp. 95-112
Author(s):  
Ricardo Azevedo Araujo ◽  
Joanílio Rodolpho Teixeira
Keyword(s):  
Economic Growth ◽  
Structural Change ◽  
Productivity Growth ◽  
Technological Progress ◽  
Structural Changes ◽  
Supply And Demand ◽  
Supply Side ◽  
Demand Side ◽  
Sector Model

Structural economic dynamics is an approach that provides insights into the process of structural change, offering a synthesis between traditional supply and demand views of economic growth, with the supply side characterized by technological progress and the demand side driven by the Engel’s law. However, adequately considering structural change requires a framework for more fully accounting for the role of demand, and not leaving it as merely exogenous. With this inquiry dimensions of endogenous patterns of demand are selectively embedded in a Pasinetti multi-sector model, thus rendering structural changes endogenous. This stream of research provides a more inclusive and comprehensive panorama of the role of demand for structural change, connecting the evolving patterns of the demand with productivity growth.

Sign in / Sign up

Export Citation Format

Share Document