Development and Underdevelopment in the History of Economic Thought

Autonomous components of aggregate demand and capital accumulation in Richard Cantillon's Essai? An inquiry through the lens of classical-Keynesian theory

Gahn Santiago José, Roma Tre

Recently, some authors have severely criticised the incorporation of the notion of autonomous components of aggregate demand in demand-led growth theory. We show that these components are present in Richard Cantillon's Essai written in the XVIIIth century and, also, some necessary elements for a formulation of a demand-led theory of accumulation.

Area:

Keywords: Cantillon, Growth theory, History of Economic Thought

Paper file