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Keynes, Investment Theory and the Economic Slowdown - The Role of Replacement Investment and q-Ratios (Hardcover)
Loot Price: R4,356
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Keynes, Investment Theory and the Economic Slowdown - The Role of Replacement Investment and q-Ratios (Hardcover)
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Despite Keynes' achievement in developing his theory of monetary
economy, he failed to integrate some important real effects
investment into his analysis. Specifically, he neglected the role
of replacement investment, although his anticipations of the
q-theory laid the groundwork for a theory of replacement
investment.;This book integrates Keynes' observations about the
q-theory into a coherent theory of replacement investment. It
demonstrates why, in the absence of a significant post-war
depression, business was relieved of the need to replace obsolete
capital goods, thereby leading the economy into a period of
prolonged stagnation.;Michael Perelman is the author of several
books including "Karl Marx's Crisis Theory - Labor, Scarcity and
Fictitious Capital".
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