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Journal Article
History of Political Economy (2010) 42 (3): 547–571.
Published: 01 September 2010
...James C. W. Ahiakpor Both the 1932 Harvard and Chicago recommendations for dealing with the Great Depression include vigorous open market purchases by the Fed; federal government deficit spending, including public works, financed by new money creation; reduction in tariffs; and the cancellation...
Journal Article
History of Political Economy (2016) 48 (2): 225–263.
Published: 01 June 2016
... to spend or invest money rather than letting it lie idle. Correspondence may be addressed to Philipp Rössner, University of Manchester, Arts, Languages and Cultures, Oxford Road, M13 9PL, UK; e-mail: philipp.roessner@manchester.ac.uk . I would like to thank Peter Blickle, Markus A. Denzel, Moritz...
Journal Article
History of Political Economy (2011) 43 (1): 199–223.
Published: 01 March 2011
... and insights associated with the Office of Research, Plans, Programs, Evaluation, brought the evaluation perspective of RAND to government spending and gradually began to dominate. This essay examines the internal and external pressures of the period and uses the insights of Randall Collins, Michael Farrell...
Journal Article
History of Political Economy (2017) 49 (4): 537–574.
Published: 01 December 2017
..., the new idea of public spending on education as a form of investment with a demonstrably high rate of return, and the capacity to contribute to the achievement of important national goals, was enthusiastically communicated to the public by opinion leaders, policymakers, and even a president. This paper...
Journal Article
History of Political Economy (1975) 7 (1): 19–27.
Published: 01 March 1975
... to. It 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 (1984) 16 (1): 89–105.
Published: 01 March 1984
... issues of a constitutional nature, however, we discover that important differences exist between the BB and classical analyses. These differences are highlighted in order to generate classical insights regarding a specific constitutional constraint- constitutional spending limits. It must...
Journal Article
History of Political Economy (1975) 7 (1): 28–31.
Published: 01 March 1975
... that 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 (2000) 32 (4): 889–908.
Published: 01 November 2000
... of consumption spending in promoting income and employment growth. Kahn concentrated particularly on public works expenditures, arguing that, rather than diverting “capital” (funds) from productive, private investment and thus retarding employment and output growth, spending on public works increases...
Journal Article
History of Political Economy (2008) 40 (2): 383–395.
Published: 01 June 2008
... more saving and investment spending on its sustainable pro- duction possibilities frontier (PPF) at the beginning of the forced-saving process—Garrison illustrates his claim by locating the economy’s pro- duction outside the PPF in order to escape the technical limitations implied by that diagram...
Journal Article
History of Political Economy (1997) 29 (3): 549–556.
Published: 01 September 1997
.... [1931] 1970 . The Costs of the War to the American People . Reprinted with introduction by Joseph Dorfman. New York: Kelley. Clark , John Maurice. . 1935 . Cumulative Effects of Changes in Aggregate Spending as Illustrated by Public Works. American Economic Review 25 : 14 -20. Clark...
Journal Article
History of Political Economy (2007) 39 (3): 529–543.
Published: 01 September 2007
... spends perhaps 30/- a week s when employed he spends 60/- Some imports for food and raw materials This may stimulate exports or a little diminish foreign investment s Indirect employment But of the 30...
Journal Article
History of Political Economy (1988) 20 (2): 332–335.
Published: 01 June 1988
.... 189) may provide too easy a test. Had the President sought to maintain aggregate spending as understood by a majority of economists in the three decades following Keynes’s General Theory, he would not have resisted Congressional pressures for public relief, early payment of World War I bonuses...
Journal Article
History of Political Economy (1978) 10 (4): 534–540.
Published: 01 November 1978
...) Currie sum- marized the case for deficit spending. “After a drastic decline in business activity it is questionable whether sufficient new in- vestment will take place ‘naturally’ to offset the current disin- vestment and current saving. Broadly speaking, increased expen...
Journal Article
History of Political Economy (1980) 12 (3): 303–315.
Published: 01 September 1980
... shared a rising confidence in their economic policies. While sharply attacking the evils of monopoly, President Roosevelt also defended his spending programs. “Behind the growing recovery of today is a story of deliberate government ac- ceptance of responsibility to save business-to save...
Journal Article
History of Political Economy (1995) 27 (4): 737–753.
Published: 01 November 1995
...) or by other temporary spending spurs, developed capitalist economies are thought structurally prone to prolonged bouts of reduced investment and slowed growth. This view was suggested in general terms as early as Sweezy’s Theory of Capitalist Development (1942) and con- tinues to be forcefully...
Journal Article
History of Political Economy (2011) 43 (2): 363–368.
Published: 01 June 2011
... and individuals pur- sue their self-interest. Markets work. Their central tendency is a high level of employment, and a high level of growth, assuming just the right mone- tary policy. There was no place, or little place, for labor unions or regula- tion or government spending or Keynesian thinking...
Journal Article
History of Political Economy (1987) 19 (2): 191–205.
Published: 01 June 1987
... works, however, were in error. Their approach implied control over the use of borrowed funds. The important issue was growth in the volume of credit-financed spending, without prior specification of the purposes to which it should be directed! Hansen’s skepticism was stated more clearly in his...
Journal Article
History of Political Economy (1978) 10 (4): 509–524.
Published: 01 November 1978
... practicing the anonymity appropriate for an Administrative Assistant, he became a central figure among liber- als who advocated spending programs to combat recession in 1938 and to prepare for military defense.* During World War 11, Currie handled Lend Lease for China as a Deputy...
Journal Article
History of Political Economy (1986) 18 (3): 515–521.
Published: 01 September 1986
... would have been forced to restrict its spending to a level dictated by the revenue-generating powers of a few indirect taxes on im- portant items. In fact, Gladstone’s actions consistently ran counter to that principle. Rather than taxes imposing limits on spending, his budgets...
Journal Article
History of Political Economy (2000) 32 (4): 909–914.
Published: 01 November 2000
... series to derive a finite- valued spending multiplier. Hawtrey’s 1928 Treasury memorandum (quoted by Davis 1983, appendix) worked out a numerical example of the change in equilibrium income resulting from the imposition of taxation to pay reparations, with a leakage into imports from successive...