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Financial Markets, Finance, and Investment

In: Money and the Real World

Author

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  • Paul Davidson

Abstract

In modern economies, the development of well organised spot markets for placements severed any direct link between the demand decision for the hire-purchase of fixed capital (involving production control or management of the services of capital) and the portfolio balance decision (involving ownership of capital). The existence of well organised security markets permits the efficient transfer of current command of real resources and thereby facilitates the achievement of high rates of accumulation for a monetary economy (within its resource base constraints) but such markets may add greatly to the instability of the system.

Suggested Citation

  • Paul Davidson, 1978. "Financial Markets, Finance, and Investment," Palgrave Macmillan Books, in: Money and the Real World, edition 0, chapter 0, pages 246-268, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-15865-2_10
    DOI: 10.1007/978-1-349-15865-2_10
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