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Issue:

Miscellaneous

 

Written by:

John M

 

Date added:

April 29, 2015

 

Level:

University

 

Grade:

A

 

No of pages / words:

5 / 1294

 

Was viewed:

375 times

 

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Essay content:

They also revived the classical link between macroeconomic theories of income distribution and economic growth using Keynesian analysis. They emphasised that the role of financial markets and rejected the quantity theory of money, preferring effective demand as the major influence on income distribution...
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The prevailing theory in economics was static rather than dynamic. Harrods?f argued what was needed is a body of theory to explain what caused the observable movement of the economic system to change overtime. The Harrod-Domar formula, in which the growth rate as the dependent variable, is determined by the propensity to save and the incremental capital/output ratio...
displayed 300 characters

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