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Time and the Macroeconomic Analysis of Income
9781472553881, 9781472512802

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Analytical Index classical economics, and the factors of production, 147-9, 151 and the Theory of Emissions, 137-8 and the theory of value, 137, 157 consumption, and the propensity to consume, 6-8, 76,81 and the propensity to spend, 72 as final expenditure, 37-9,138-43 consumption goods, 204-7, 211

163-222 expectations, and effective demand, 176 and income determination, 173-4 expenditures, and production, 120-2 and the concept of causality, 188 as emissions, 132-43 as instantaneous events, 108-11 autonomous, 48-9, 83-5 income as a flow of, 1-24

demand, effective, and expectations, 176 and the identity of supply and demand, 178-82,214 and time, 175-8 dichotomy, and quantum analysis, 124 the problem of, 87, 92,132 distribution, and profits, 143-7 and wages, 134-8

factors of production, see production.

emissions, and causality, 188 and creation, 132-8 and destruction, 138-43 and expenditures, 108-11, 122 and money, 132-43 and production, 124-5 and profits, 143-7 and quantum deposits, 135-47 and wages, 132-8, 145 real, 121, 134-8 equilibrium, and hoarding, 14-6 of saving and investment, 9-14, 18-19,64-70,207-16 of total supply and total demand, 70-3 ex-ante and ex-post, and quantum analysis, 216-22 and the analysis of income, 163-85 and the equality of Sand!, 185-216 in chronological and quantum time,

general equilibrium, and causality, 182-5 and money, 90-2 hoarding, and equilibrium, 14-16 and the equality of Sand !, 14-16, 18-21 and the multiplier, 73-5 H= 0, 34-5 income, and continuous analysis, 98-100 and expectations, 173-4 and period analysis, 100-2 and price analysis, 163-6 and quantum time, 120-6, 132-47 and stocks and flows, 1 as a flow of expenditures, 1-23 distribu tion, 143-7 ex-ante determination of, 163-85 Keynesian definition of, 24-49 net, 3 traditional definition of, 2 indivisibilities, problem of, 117-19 inflation, in Keynes's analysis, 30-1 interest, and quantum analysis, 215-16 Keynes's analysis of, 211-16 rate of, 211-16