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The Theory of Aggregate Investment in Closed Economic Systems (Hardcover, New)
Loot Price: R2,694
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The Theory of Aggregate Investment in Closed Economic Systems (Hardcover, New)
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Although economic theory has increased our understanding of some
economic problems, it has rendered others, including the problem of
capital accumulation, growth, and development, more difficult to
understand. Focusing on capitalist economic systems, this book
develops a theoretical approach to the study of aggregate capital
dynamics. The theory is developed within the Keynesian framework of
aggregate thinking and builds on the work of such Cambridge
economists as Robinson, Kaldor, and Pasinetti. The approach helps
to resolve some theoretical difficulties within the Keynesian
framework for studying aggregate investment behavior. Dompere also
provides a criticism of the neoclassical investment theory and the
general neoclassical theoretical framework for studying aggregate
capital accumulation, investment, and growth. Reexamining some
questions on investment that earlier theorists have tried to
answer, this study develops some of the basic ideas of Keynes,
Robinson, Kaldor, and Pasinetti into a general theoretical system
that allows an optimal aggregate capital and investment to be
determined for a given information set.
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