From the Treatise to the General Theory: the transformation of Keynes's theory of investment in working capital
Article Abstract:
Keynes's Treatise on Money did not adequately analyse the cumulative processes that working capital's induced demand effect gave rise to. Keynes was aware of this inadequcay and focuses on this issue in a 1932 draft which later evolved into The General Theory of Employment, Interest and Money. The 1932 draft includes what was almost a dynamic theory dealing with effective demand. He then reformulated his theory in static terms in 1933 in order to engage with orthodox economists. The static nature of orthodox theory created a tension with the dynamic nature of his effective demand theory.
Publication Name: Cambridge Journal of Economics
Subject: Economics
ISSN: 0309-166X
Year: 1998
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Science, high technology and the competitiveness of EU countries
Article Abstract:
A comparative assessment of the similarities in imports and exports in R&D intensive, average and above average high-tech, products reveals variations in correlations between science and technology production and trade positions across European Union (EU) nations. This reveals non-uniformity in the marketing of high-tech products across EC member nations.
Publication Name: Cambridge Journal of Economics
Subject: Economics
ISSN: 0309-166X
Year: 1995
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