"Full Utilization," Equilibrium, and the Expansion of Production
I. The problem, 539. — II. The utilization of productive resources in a static equilibrium economy: (1) The formal theory of prices and price-margins in an equilibrium economy, 542; (2) Static equilibrium and continuity, 545; (3) The meaning of “full utilization” in a static equilibrium economy, 547. — III. The determinants of margins in a static equilibrium economy: (1) The limiting power of the strategic factor, 550; (2) Real costs as determinant of margins of utilization, 552; (3) Institutional limitations on the utilization of resources, 554; (4) The monetary supply as the limiting factor, 556. — IV. The expansion of production without increase of the supply of money: (1) Through saving of monetary income, 558; (2) Through technological improvement, 560. — V. Expansion of production with increase in the monetary supply, 561. — Overcoming inflated price-resistances, 562. — Effect of reduction in the interest rate, 564. — Conclusion, 564.
- DOI
- 10.1093/qje/54.4_part_1.539
- Volume
- 54 (4 Part 1)
- Pages
- 539-565
- Language
- en
- Export
- BibTeX
- Sources
- openalex crossref