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The Social Significance of Consumption and the Elasticity of Output to Demand in the Long Run: A Reply to Gualerzi

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  • Attilio Trezzini

Abstract

Gualerzi's comment on Trezzini’s 2015 article (‘Growth without Normal Capacity Utilization and the Meaning of the Long-Run Saving Ratio.’) underestimates the role played by the long-run elasticity of output with respect to changes in aggregate demand in my analysis and in the demand-led processes of growth.

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  • Attilio Trezzini, 2017. "The Social Significance of Consumption and the Elasticity of Output to Demand in the Long Run: A Reply to Gualerzi," Review of Political Economy, Taylor & Francis Journals, vol. 29(1), pages 157-161, January.
    • Handle: RePEc:taf:revpoe:v:29:y:2017:i:1:p:157-161
    DOI: 10.1080/09538259.2016.1243690
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    References listed on IDEAS

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    1. Davide Gualerzi, 2001. "Consumption and Growth," Books, Edward Elgar Publishing, number 2433.
    2. Attilio Trezzini, 2011. "The Irreversibility of Consumption as a Source of Endogenous Demand-driven Economic Growth," Review of Political Economy, Taylor & Francis Journals, vol. 23(4), pages 537-556, October.
    3. Trezzini, Attilio, 2012. "Relative Income Vs. Permanent Income: The Crisis Of The Theory Of The Social Significance Of Consumption," Journal of the History of Economic Thought, Cambridge University Press, vol. 34(3), pages 355-377, September.
    4. Pierangelo Garegnani & Attilio Trezzini, 2010. "Cycles and Growth: A Source of Demand-Driven Endogenous Growth," Review of Political Economy, Taylor & Francis Journals, vol. 22(1), pages 119-125.
    5. Attilio Trezzini, 2016. "Early contributions to the economics of consumption as a social phenomenon," The European Journal of the History of Economic Thought, Taylor & Francis Journals, vol. 23(2), pages 272-296, April.
    6. Attilio Trezzini, 2015. "Growth without Normal Capacity Utilization and the Meaning of the Long-Run Saving Ratio," Review of Political Economy, Taylor & Francis Journals, vol. 27(2), pages 183-200, April.
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