The Keynesian Theory of Economic DevelopmentClarifies the technical possibilities and limitations of economic growth in general, and of the economic development of underdeveloped countries in particular, by using a Keynesian frame of reference. |
Contents
CLASSICAL AND POSTCLASSICAL PRECURSORS | 13 |
THE STRUCTURE OF AN UNDERDEVELOPED | 26 |
THE SOCIALLY OPTIMAL RATE OF GROWTH | 41 |
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advanced economy analysis assumption autonomous investment average and marginal average propensity balance of payments capital accumulation capital-output ratio consumption decrease developed economies Domar economic development Economic Growth economic progress effective demand equation equilibrium exports foreign full employment full-capacity growth rate fully utilized given growing growth of capital growth of labour growth of output Harrod-Domar models Harrod's implies import increase industries inflation investment ratio Joan Robinson Keynes Keynes's Keynesian labour population labour productivity labour-output ratio labour-saving laissez-faire long-run marginal propensity ment national income net investment output ratio parameters parametric operations population growth possible Post-Keynesian Economics private saving productive capacity productivity of capital productivity of investment productivity of labour propensity to save rate of growth real capital real income relation relative required labour rise saving ratio secular socially optimal rate standard of living stock of capital structural underemployment supply techniques Theory of Economic Underdeveloped Countries underdeveloped economy