Government Deficits, Liquidity Preference, and Schumpeterian Innovation
AbstractWray asserts that rigorous analyses of the role played by innovation in economic development must acknowledge the contribution of Joseph Schumpeter. However, the author suggests that the current stagnation confronting most developed, capitalist economies "cannot be understood without synthesizing Schumpeter's insights with those of Kalecki and Keynes." Hence, Schumpeter's work alone is inadequate in explaining the links between government deficits in ensuring aggregate demand and corporate profits.
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Bibliographic InfoPaper provided by EconWPA in its series Macroeconomics with number 9907005.
Length: 37 pages
Date of creation: 08 Jul 1999
Date of revision:
Note: Type of Document - Acrobat PDF; prepared on IBM PC; to print on PostScript; pages: 37; figures: included
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Other versions of this item:
- Randall Wray, 1993. "Government Deficits, Liquidity Preference, and Schumpeterian Innovation," Economics Working Paper Archive wp_99, Levy Economics Institute.
- E - Macroeconomics and Monetary Economics
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Jan Allen Kregel, 1993. "A Post Keynesian Explanation of the Causes of the Current World Slupm," Working Papers 182, Dipartimento Scienze Economiche, Universita' di Bologna.
- Robert Heilbroner, 1993. "Was Schumpeter Right after All?," Journal of Economic Perspectives, American Economic Association, vol. 7(3), pages 87-96, Summer.
- Wray, L Randall, 1992. "Alternative Theories of the Rate of Interest," Cambridge Journal of Economics, Oxford University Press, vol. 16(1), pages 69-89, March.
Blog mentionsAs found by EconAcademics.org, the blog aggregator for Economics research:
- Plan B: Interview with Lester Brown about Collapse
by Tom Hickey in Mike Norman Economics on 2011-03-28 18:46:00
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