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Summary and Appraisal

Published online by Cambridge University Press:  26 March 2020

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Abstract

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Information
National Institute Economic Review , Volume 98 , November 1981 , pp. 3 - 5
Copyright
Copyright © 1981 National Institute of Economic and Social Research

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References

(1) We frequently encounter the argument that there cannot be a deficiency of demand because the money value of national expenditure is rising year by year. This is not the place to explain why this argument is misconceived, but it is so widely used that we cannot avoid comment altogether. Concepts of demand, and demand deficiency, used here are real and not nominal.