Recently, some authors have severely criticised the incorporation of the notion of au- tonomous 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.
Autonomous components of aggregate demand and capital accumulation in Richard Cantillon's Essai? An inquiry through the lens of modern demand-led growth theory
Santiago Gahn
2020-01-01
Abstract
Recently, some authors have severely criticised the incorporation of the notion of au- tonomous 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.File in questo prodotto:
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Gahn - 2020 - Siena WP.pdf
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