An institutionalist’s Journey into the Years of High Theory. John M. Clark on the Accelerator, the Multiplier, and their Interaction

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An institutionalist’s Journey into the Years of High Theory. John M. Clark on the Accelerator, the Multiplier, and their Interaction

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Luca Fiorito ()

Abstract

This note deals with the origins of Samuelson's multiplier-accelerator model. In clarifying the historical background of the model, we will offer a brief reconstruction of John Maurice Clark’s contributions to the ideas underlying the accelerator, the multiplier, and their interaction. We will show that 1) Clark’s theoretical contributions were quite significant, and 2) that they emerged out of the intellectual movement known as American Institutionalism

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Paper provided by Department of Economics, University of Siena in its series Department of Economics University of Siena with number 481.

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Date of creation: May 2006
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Handle: RePEc:usi:wpaper:481

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B22 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Macroeconomics
B31 - Schools of Economic Thought and Methodology - - History of Thought: Individuals - - - Individuals
B25 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Historical; Institutional; Evolutionary; Austrian
E20 - Macroeconomics and Monetary Economics - - Macroeconomics: Consumption, Saving, Production, Employment, and Investment - - - General (includes Measurement and Data)

This paper has been announced in the following NEP Reports:

NEP-ALL-2007-01-13 (All new papers)
NEP-HIS-2007-01-13 (Business, Economic & Financial History)
NEP-HPE-2007-01-13 (History & Philosophy of Economics)
NEP-PKE-2007-01-13 (Post Keynesian Economics)

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