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Keynes, Investment Theory and the Economic Slowdown : The Role of Replacement Investment and q-Ratios - Michael Perelman

Keynes, Investment Theory and the Economic Slowdown

The Role of Replacement Investment and q-Ratios

Hardcover

Published: 30th May 1989
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Despite Keynes' achievement in developing his theory of monetary economy, he failed to integrate some important real effects investment into his analysis. Specifically, he neglected the role of replacement investment, although his anticipations of the q-theory laid the groundwork for a theory of replacement investment. This book integrates Keynes' observations about the q-theory into a coherent theory of replacement investment. It demonstrates why, in the absence of a significant post-war depression, business was relieved of the need to replace obsolete capital goods, thereby leading the economy into a period of prolonged stagnation. Michael Perelman is the author of several books including "Karl Marx's Crisis Theory - Labor, Scarcity and Fictitious Capital".

Keynes and the Crisis - Introduction - Keynes and Crises, Before the General Theory - Economic Management in the General Theory - Replacement Investment Theory - The q-Theory and Replacement Investment: A Cursory Look at the Replacement Decision - On the Application of Keynesian Economics in the United States - Conclusion - References - Index

ISBN: 9780333464960
ISBN-10: 0333464966
Series: Role of Replacement Investment and Q-Ratios
Audience: Professional
Format: Hardcover
Language: English
Number Of Pages: 298
Published: 30th May 1989
Publisher: Palgrave Macmillan
Country of Publication: GB
Dimensions (cm): 21.59 x 13.79  x 3.0
Weight (kg): 0.55
Edition Number: 2