I am now using Friday’s blog space to provide draft versions of the Modern Monetary Theory textbook that I am writing with my colleague and friend Randy Wray. We expect to publish the text sometime around mid-2014. Our (very incomplete) textbook home page – Modern Monetary Theory and Practice – has draft chapters and contents etc in varying states of completion. Comments are always welcome. Note also that the text I post here is not intended to be a blog-style narrative but constitutes the drafting work I am doing – that is, the material posted will not represent the complete text. Further it will change as the drafting process evolves.
Previous blogs in this series:
Previous blogs in this series:
Chapter X Growth and Inequality
X.2 Keynesian growth theories – Harrod-Domar
[PREVIOUS MATERIAL HERE]
[WE LAST CONSIDERED THE DUAL NATURE OF INVESTMENT WHICH WAS STRESSED IN DOMAR'S 1947 ARTICLE "EXPANSION AND EMPLOYMENT". WE HAD DERIVED THE RELATIONSHIP BETWEEN INVESTMENT SPENDING AND GROWTH IN PRODUCTIVE CAPACITY. TODAY WE CONSIDER THE DEMAND SIDE IMPACTS OF INVESTMENT AND BRING THE TWO TOGETHER TO DEFINE THE GROWTH IMPERATIVE - IT SHOULD BE FUN]
X.x1 The demand contribution of investment
Growth and Inequality – Part 3
Bill Mitchell | Professor in Economics and Director of the Centre of Full Employment and Equity (CofFEE), at the Charles Darwin University, Northern Territory, Australia
Bill is also adding material to his forthcoming options for Europe book. The series can be accessed here. It's up to part nine now.
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