The theme of this extensive book is the relationship between consumption and growth in the context of the long run theory of effective demand. Taking Schumpeter’s views on economic development as a starting point, the author proposes an original framework for the analysis of consumption patterns as an element of growth in advanced market economies. The book examines the role of demand with respect to the theory of structural change and the theory of consumption at both the micro and macro level. The theoretical framework is employed to analyze the consumption-growth relationship and its implications for the process of structural evolution.
