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The Role of Consumption in the Economy – An Evolution of the Ideas from Cantillon to Keynes

Author

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  • Tatiana Ivanova

    () (University of Economics, Varna, Bulgaria)

Abstract

The article is a critical review, systematization, comparison and summary of the views on the role of the consumption for the dynamics of the economy from Cantillon to Keynes. Emphasis is placed on the alternatives of ideas, explained by the different assumptions and suggestions of the authors, and the changes in the economic conjuncture. In the context of the global crisis, the debate is revived, and the increasing demand is again one of the main opportunities for the implementation of the macroeconomic policy.

Suggested Citation

  • Tatiana Ivanova, 2019. "The Role of Consumption in the Economy – An Evolution of the Ideas from Cantillon to Keynes," Nauchni trudove, University of National and World Economy, Sofia, Bulgaria, issue 5, pages 311-324, December.
  • Handle: RePEc:nwe:natrud:y:2019:i:5:p:311-324
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    File URL: http://unwe-research-papers.org/bg/journalissues/article/10221
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    More about this item

    Keywords

    consumption; economic growth;

    JEL classification:

    • B51 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Socialist; Marxian; Sraffian
    • B52 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Historical; Institutional; Evolutionary; Modern Monetary Theory;
    • E1 - Macroeconomics and Monetary Economics - - General Aggregative Models
    • E21 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Consumption; Saving; Wealth
    • O4 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity

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