Post-Keynesian theory, technology policy and long-term growth - Sciences Humaines et Sociales Accéder directement au contenu
Article Dans Une Revue Journal of Post Keynesian Economics Année : 2004

Post-Keynesian theory, technology policy and long-term growth

Résumé

Research and innovation are not addressed as central features in most Post Keynesian models, which integrate technological progress through capital accumulation. Analyzing aggregate demand and unemployment without integrating the impact of research leads to an incomplete understanding of the growth process. This paper aims at integrating the analysis of research in the Post Keynesian approach. Firms' inability to support basic, unfettered research contributes to the instability of capitalism, since it reduces tomorrow's investment opportunities. In a nonergodic world, true and fundamental uncertainty explains why firms choose such a strategy, and why a "comprehensive socialization of investment" is necessary through adequate public policies.
Fichier non déposé

Dates et versions

hal-01018524 , version 1 (04-07-2014)

Identifiants

  • HAL Id : hal-01018524 , version 1

Citer

Renaud Bellais. Post-Keynesian theory, technology policy and long-term growth. Journal of Post Keynesian Economics, 2004, 26 (3), pp.419-440. ⟨hal-01018524⟩
101 Consultations
0 Téléchargements

Partager

Gmail Facebook X LinkedIn More