Saving, Investment and the Multiplier (1936 and after)

  • John R. Presley

Abstract

The next major step in the saving-investment debate came in 1936 with the publication of Keynes’ General Theory. This section begins by surveying the relationship between saving and investment found in this great work; from this one can then appreciate why the forced saving and multiplier theories were incompatible; but which had greater validity? Robertson was not convinced by Keynes and Keynesian argument. The main objective of this chapter therefore is to examine why Robertson remained unpersuaded by multiplier analysis and why he remained faithful to the forced saving thesis.

Keywords

Depression Cage Income Librium 

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Saving, Investment and the Multiplier (1936 and after)

  1. 3.
    B. Ohlin, ‘Some Notes on the Stockholm Theory of Savings and Investment’, EJ, Vol. 47, (June 1937) pp. 211–240.Google Scholar
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Copyright information

© John R. Presley 1978

Authors and Affiliations

  • John R. Presley

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