Towards a Tenable Concept of ‘Warranted Supply’

  • Francis Seton


Among the comprehensive portrayals of economic structure, the integrated tableaux économiques that have engaged the attention of economists in recent decades, the most outstanding is undoubtedly Leontief’s input-output table, both for its eloquence and rigour and its fecundity as a tool of economic analysis. Some of its statistical robustness, veracity, and adequacy may have been called into question in various contexts, but it is still a conceptual template which, consciously or unconsciously, underlies much of macroeconomic thinking, whether of an abstract or policy-oriented kind.


Final Output Production Sector Final Demand League Table Final Supply 
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© András Simonovits and Albert E. Steenge 1997

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  • Francis Seton

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