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The neglect of replacement investment in keynesian economics

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  • Michael Perelman

Abstract

This article describes Keynes's early analysis of replacement investment and his subsequent neglect of the subject, especially by his followers. It goes on to explain how this deficiency helped to mislead later economists who attempted to use Keynes as a guide for economic policy and theory and the consequences of the errors of these economists.

Suggested Citation

  • Michael Perelman, 2006. "The neglect of replacement investment in keynesian economics," Review of Political Economy, Taylor & Francis Journals, vol. 18(4), pages 547-559.
    • Handle: RePEc:taf:revpoe:v:18:y:2006:i:4:p:547-559
    DOI: 10.1080/09538250600915741
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    References listed on IDEAS

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