The Theory of Aggregate Investment in Closed Economic Systems

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Kofi Kissi Dompere

Book Code: GM0796

ISBN: 0-313-30796-2

ISBN-13: 978-0-313-30796-6

DOI:

224 pages, figures, references

Greenwood Press

Publication: 11/30/1999

List Price: $131.95 (UK Sterling Price: £75.00)

Availability: Out of stock

Media Type: Hardcover

Trim Size: 6 1/8 x 9 1/4

Subjects:

Series Title: Contributions in Economics and Economic History

Series Number: 202

Description: Although economic theory has increased our understanding of some economic problems, it has rendered others, including the problem of capital accumulation, growth, and development, more difficult to understand. Focusing on capitalist economic systems, this book develops a theoretical approach to the study of aggregate capital dynamics. The theory is developed within the Keynesian framework of aggregate thinking and builds on the work of such Cambridge economists as Robinson, Kaldor, and Pasinetti. The approach helps to resolve some theoretical difficulties within the Keynesian framework for studying aggregate investment behavior. Dompere also provides a criticism of the neoclassical investment theory and the general neoclassical theoretical framework for studying aggregate capital accumulation, investment, and growth. Reexamining some questions on investment that earlier theorists have tried to answer, this study develops some of the basic ideas of Keynes, Robinson, Kaldor, and Pasinetti into a general theoretical system that allows an optimal aggregate capital and investment to be determined for a given information set.

Table of Contents:

Introduction
The Neo-Keynesian Framework
The Neo-Keynesian Optimal Capital Theory
The Theory of Aggregate Investment Behavior in a Closed Economy
Fiscal Policy and Optimal Capital Accumulation
The Theory of Aggregate Investment and Neoclassical One-Sector Growth in a Closed Economy
A Methodological Critique and Appraisal of the Neoclassical Theory of Investment and Other Alternative Theories
Concluding Remarks and Reflections
References
Index

LC Card Number: 98-15327

LCC Class: HB843

Dewey Class: 339


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