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The Economics of Demand-Led Growth: Challenging the Supply-Side Vision of the Long Run

Mark Setterfield

3/5 ( ratings)

Economists from Europe, North America, and Australia challenge the notions that demand has only a transitory impact on the utilization of resources; and that the development of resources, and hence of potential output, over time is independent of demand. They argue instead that the role of demand in influencing the utilization of productive resources is chronic, and that there is no supply- determined equilibrium acting as a center of gravity toward which the level of economic activity is inevitably and inexorably drawn. The natural rate of growth, they conclude, is ultimately endogenous to the demand-determined actual rate of growth. Annotation c. Book News, Inc., Portland, OR

Language: English

Format: Hardcover

Publisher: Edward Elgar Pub

Release: August 01, 2002

ISBN: 1840641770

ISBN 13: 9781840641776

The Economics of Demand-Led Growth: Challenging the Supply-Side Vision of the Long Run

Mark Setterfield

3/5 ( ratings)

Economists from Europe, North America, and Australia challenge the notions that demand has only a transitory impact on the utilization of resources; and that the development of resources, and hence of potential output, over time is independent of demand. They argue instead that the role of demand in influencing the utilization of productive resources is chronic, and that there is no supply- determined equilibrium acting as a center of gravity toward which the level of economic activity is inevitably and inexorably drawn. The natural rate of growth, they conclude, is ultimately endogenous to the demand-determined actual rate of growth. Annotation c. Book News, Inc., Portland, OR

Language: English

Format: Hardcover

Publisher: Edward Elgar Pub

Release: August 01, 2002

ISBN: 1840641770

ISBN 13: 9781840641776

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