The Keynesian Multiplier
| By: | Claude Gnos |
| Publisher: | Taylor & Francis |
| Print ISBN: | 9780415320139 |
| eText ISBN: | 9781134361939 |
| Edition: | 1 |
| Copyright: | 2000 |
| Format: | Reflowable |
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The multiplier is a central concept in Keynesian and post-Keynesian economics. It is largely what justifies activist full-employment fiscal policy: an increase in fiscal expenditures contributing to multiple rounds of spending, thereby financing itself. Yet, while a copingstone of post-Keynesian theory, it is not universally accepted by