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effective demand

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Kalecki, notably, remarked that she did not foresee the boost to effective demand that would come in the decades succeeding her death from the growth in state --not least military--expenditure (this is neatly summed up in Kolakowski, 1981, 73-4).
And if most people have less, they obviously spend less, and people who sell find fewer people who buy - that is, lower effective demand.
Sardoni argues that, by abandoning the assumption of free competition and adopting a theory of imperfect competition based upon a 'profit mark-up' approach and the 'degree of monopoly', Kalecki provides a more coherent set of micro-foundations in analysing the macroeconomic problems of unemployment and effective demand.
The first of three more technical papers, Chapter 9 is authored by Colin Rogers, who provides a more detailed and very readable study of the place and importance of the effective demand principle within the General Theory.
Even if a competitive economy with perfectly flexible money wages and prices existed, there was no automatic market mechanism that could restore the full employment level of effective demand.
After Keynes's triumph, economists forgot about banking and credit cycles and modelled every crisis as a result of lack of effective demand to be cured by fiscal action.
The Government can create effective demand for steel with investment programmes, but the Government has continued Thatcher's hostility to public ownership and a policy of de-industrialisation in favour of making the service industries the foundation of the British economy.
Sgouridis called for effective demand management by pricing energy to reflect its true cost of production as well as the pollution resulting from its use.
On the LDP's crushing defeat, Yosano said one of the main reasons he sees for it is that the government failed to provide financial support to create effective demand in Japan's regional economies.

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