Effective Demand, Employment and Capital Utilisation in the Short Run.
This paper attempts to help clarify the many-faceted notion of capital utilization in the theory of effective demand. The problem is dealt with in terms of a simple two-sector model. Two aspects of capital utilization are distinguished: (1) the microeconomic aspect of the choice among alternative systems of operation of plant and equipment; and (2) the macroeconomic aspect of which proportion of the existing capital stock will actually be used. Some support is provided for the view that the short run is sometimes a "cooperative game" in which both labor and capital gain. Copyright 1990 by Oxford University Press.
Year of publication: |
1990
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Authors: | Kurz, Heinz D |
Published in: |
Cambridge Journal of Economics. - Oxford University Press. - Vol. 14.1990, 2, p. 205-17
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Publisher: |
Oxford University Press |
Saved in:
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