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propensities

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Journal Article
History of Political Economy (2019) 51 (4): 753–777.
Published: 01 August 2019
... contemporary commercial economy—somewhat surreptitiously abandoned labor-commanded and adopted instead labor-embodied as a generally valid theory of exchange value. Peach shows a propensity to find what he considers “labor-commanded” usages in Smith’s work. However, I find Peach’s rather startling...
Journal Article
History of Political Economy (2015) 47 (2): 307–333.
Published: 01 June 2015
...). As the capital- ist economic system was not violently unstable, being subject only to moderate to severe fluctuations or business cycles, Keynes concluded that “the psychological propensities of the modern world must be of such a character as to produce these results” (250), that is, the...
Journal Article
History of Political Economy (1975) 7 (1): 19–27.
Published: 01 March 1975
... will be shown later that the matter is relevant to the “inflationary gap” which plays such a prominent part in current discussions of war-time fiscal problems. The simple principle of the investment multiplier can be stated as follows: with a given propensity to spend, a unit decrease...
Journal Article
History of Political Economy (1992) 24 (1): 153–181.
Published: 01 March 1992
... Economic Statistics 20 . 3 ( August ): 128 -34. Duncan , A. J. 1939 . The Propensity to Consume: A Comment. Quarterly Journal of Economics 53 . 1 ( August ): 632 . Duesenberry , J. S. 1949 . Income, Saving and the Theory of Consumer Behavior . Cambridge: Harvard University Press...
Journal Article
History of Political Economy (1970) 2 (1): 197–198.
Published: 01 March 1970
... theory of the multiplier holds good in the sense that the increment of aggregate demand is equal to the increment of aggregate investment multiplied by the marginal propensity to consume. This sentence was incorrect. It should have read: But in every interval of time the theory of...
Journal Article
History of Political Economy (1977) 9 (2): 283–284.
Published: 01 June 1977
... Political Economy 9:2 (1977) where c is the marginal propensity to consume, t, is the proportion of increased income diverted to the Treasury in the form of taxation, X, is the initial government expenditures, D, is the budgetary deficit (X, - T and Ty is the tax revenues. The multiplier has...
Journal Article
History of Political Economy (1977) 9 (2): 285–289.
Published: 01 June 1977
... of the margi- nal increment of saving plus taxes (i.e. by 1/(1 -a), where a is the marginal propensity to consume out of income before taxes, which in this case affect only saving). In the polar case where the tax rate is 100 percent, the increase in revenue is equal to the increase in...
Journal Article
History of Political Economy (1989) 21 (3): 549–553.
Published: 01 September 1989
... According to Patinkin, these basic properties are (a) the marginal propensity to consume is less than one, and (b) this marginal propensity “decreases with income, which is directly related to the level of employment.” Patinkin states that “neither of these basic properties is depicted by...
Journal Article
History of Political Economy (2009) 41 (4): 737–747.
Published: 01 November 2009
.... Vol. 1, The Pure Theory of Money. In vol. 5 of The Collected Writings of John Maynard Keynes . London: Macmillan. ———. [1936] 1961 . The General Theory of Employment, Interest, and Money . London: Macmillan. ———. [1939] 1973 . Mr. Keynes on the Distribution of Incomes and “Propensity to...
Journal Article
History of Political Economy (1975) 7 (1): 28–31.
Published: 01 March 1975
... many people find in it. The apparent paradox lies in the fact that, while the balanced budget multiplier is positive only when the value of the marginal propensity to spend out of disposablc income lies between zero and 1, the multiplier is always exactly 1. under properly specified...
Journal Article
History of Political Economy (2019) 51 (3): 493–513.
Published: 01 June 2019
... Saving , Vol. 2 . Philadelphia : University of Pennsylvania Press . Gilboy Elizabeth W. 1938 . “ The Propensity to Consume ”. Quarterly Journal of Economics 53 ( 1 ): 120 – 40 . Gilboy Elizabeth W. 1939 . “ The Propensity to Consume: Reply ”. Quarterly Journal of Economics...
Journal Article
History of Political Economy (1969) 1 (1): 101–122.
Published: 01 March 1969
... associa- tion out of disparate elements,” and individuals who have a propensity to conserve existing combinations and associations (this “instinct” Pareto calls “persistence of aggregates”) .4 The former personality type is the innovator of ideas and organization in all forms of human...
Journal Article
History of Political Economy (1978) 10 (3): 398–412.
Published: 01 September 1978
... variable. Its varia- tions are described explicitly in the core of his 1933 article, i.e., $0 6 through 8. Section 6 deals with the time sequence of price changes and examines the case of a sharp reduction of the propensity to save. The result of such a reduction may ‘be expanding physical output...
Journal Article
History of Political Economy (1987) 19 (2): 311–328.
Published: 01 June 1987
... list of the alternatives, and it is certainly not a list that particularly suggests a propensity to spend of unity. Patinkin unduly holds that his interpretation is the only sensible one to make. An equilibrium level of zero does not imply that Keynes could not see clearly the nature of...
Journal Article
History of Political Economy (2005) 37 (1): 103–122.
Published: 01 March 2005
... there was little to be hoped for from an increased propensity to consume as an initiating impulse, and there was no evidence of increased private invest- ment. In the second section he discussed the principle of the multiplier. He analyzed factors that affect the size of the multiplier, such as...
Journal Article
History of Political Economy (2008) 40 (1): 163–182.
Published: 01 March 2008
... references to the General Theory and Keynesian categories are abandoned. Keynes on Kalecki / De Vecchi 167 the private sector of the economy and independent of the numerical value of the propensity to consume (313–14). Haavelmo indicated as partially anticipating his...
Journal Article
History of Political Economy (1989) 21 (4): 737–741.
Published: 01 November 1989
... (pp. 29, 31 According to Patinkin, these basic properties are (a) the marginal propensity to consume is less than one, and (b) this marginal propensity “decreases with income, which is directly related to the level of employment.” Patinkin states that “neither of these basic properties is...
Journal Article
History of Political Economy (1991) 23 (2): 353–355.
Published: 01 June 1991
...-equilibrium path is determined by the “natural” rate of growth divided by the propensity to save of capitalists. Here he analyzes the conse- quences of the introduction of government taxation and expenditures in order to generalize the results. He finds that Kaldor’s theory of income distribution and...
Journal Article
History of Political Economy (2000) 32 (4): 909–914.
Published: 01 November 2000
... budget constraint for consumption, which implies a small marginal propensity to consume out of transitory changes in income. Even Keynes, in a Treasury memo- randum during the Second World War, found his absolute-income con- sumption function too simplified for practical policy analysis, arguing...
Journal Article
History of Political Economy (1976) 8 (2): 252–265.
Published: 01 June 1976
... insist with the classics that the terms of trade must worsen for the paying country, but rather deduce that the direction of change depends on the size of marginal propensities to consume importables and exportables. The essential point is that Viner’s approach is not unreasonable...