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Autonomous Demand and the Harrodian Criticisms of the Kaleckian Model
Author(s) -
Skott Peter
Publication year - 2017
Publication title -
metroeconomica
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 1.256
H-Index - 29
eISSN - 1467-999X
pISSN - 0026-1386
DOI - 10.1111/meca.12150
Subject(s) - economics , neoclassical economics , microeconomics , keynesian economics , positive economics , mathematical economics
Lavoie ([Lavoie, M., 2016]) introduces autonomous demand in a defense of the (post‐) Kaleckian analysis against classical and Harrodian criticisms. This note corrects some errors in Lavoie's analysis, questions the stabilizing potential of autonomous demand, and points out some differences between the two variants of Lavoie's ‘neo‐Kaleckian’ model.