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p. 967. Conclusionlocked

  • Donald Winch


‘Conclusion’ asks: What does Malthus have to say that is both new and true to an early twenty-first-century audience? It is now recognized that he posed many issues that are of continuing interest to economists, even if he lacked the mathematical and statistical techniques to state or resolve them adequately. He provided a better diagnosis of economic fluctuations in general and of the post-war slump in particular. And his capacious concept of effective demand enabled him to grasp some features of unemployment, the role of public spending, and the expansive forces needed to guarantee long-term growth prospects better than the tidier, more aggregate supply-oriented ideas of his opponents.

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