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Investment functions and the profitability gap

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  • Colin Richardson
  • Peter Romilly

Abstract

We examine a variety of fixed asset investment theory approaches and show that, despite apparent differences, all contain a common "gene"âthe profitability gap. This finding is equally applicable to the paradigms of neoclassical general equilibrium in logical time and postclassical fully adjusted stationary and steady states in historical time. The generic investment function and its characteristic gene appear to be one of the universals of economic science, equally at home as explanators of investment, inflation/deflation, and related cumulative processes.

Suggested Citation

  • Colin Richardson & Peter Romilly, 2008. "Investment functions and the profitability gap," Journal of Post Keynesian Economics, Taylor & Francis Journals, vol. 31(1), pages 35-56, September.
    • Handle: RePEc:mes:postke:v:31:y:2008:i:1:p:35-56
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