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Autonomous components of aggregate demand and capital accumulation in Richard Cantillon’s Essai? An inquiry through the lens of modern demand-led growth theory

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  • Santiago José Gahn

Abstract

Recently, some authors have severely criticised the incorporation of the notion of autonomous components of aggregate demand in demand-led growth theory. We show that these components are present in Richard Cantillon’s Essai written in the XVIIth century, and that an implicit demand-led theory of capital accumulation can be also developed based on his writings.

Suggested Citation

  • Santiago José Gahn, 2020. "Autonomous components of aggregate demand and capital accumulation in Richard Cantillon’s Essai? An inquiry through the lens of modern demand-led growth theory," Department of Economics University of Siena 846, Department of Economics, University of Siena.
    • Handle: RePEc:usi:wpaper:846
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    Cited by:

    1. Santiago J. Gahn, 2021. "Book Review - A Source Book on Early Monetary Thought, Elgar Publishing Limited 2020, 336 pages. ISBN: 9781839109980. Edited by Edward W. Fuller," Bulletin of Political Economy, Bulletin of Political Economy, vol. 15(1), pages 109-113, June.

    More about this item

    Keywords

    Cantillon; Growth theory; History of Economic Thought;
    All these keywords.

    JEL classification:

    • E11 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Marxian; Sraffian; Kaleckian
    • C22 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes

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