The Theory of Investment

descriptionPublicationkeyboard_double_arrow_right Part of book or chapter of book , Other literature type 01 Jan 1975 English Publisher:Palgrave Macmillan UK

Authors: Hyman P. Minsky;

doi: 10.1007/978-1-349-02679-1_5

The Theory of Investment

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Abstract

Keynes characterized his contribution as “a theory of why output and employment are so liable to fluctuation” (QJE, p. 221). In the “pure” theory, where government and foreign demand are ignored, employment depends upon consumption and investment demand. Consumption demand is passive, as it “depends mainly on the level of income” (QJE, p. 219), that is, on the sum of consumption and investment demand.

Related Organizations

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