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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


  • Luca Fiorito



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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  • Luca Fiorito, 2006. "An institutionalist’s Journey into the Years of High Theory. John M. Clark on the Accelerator, the Multiplier, and their Interaction," Department of Economics University of Siena 481, Department of Economics, University of Siena.
  • Handle: RePEc:usi:wpaper:481

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    JEL classification:

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

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