Hello to all,
I would like some reference on the history of the accelerator
principle. I read that there were it was "discovered" or postulated
independently by three economists, one of which was Aftalion I think,
and the other was Clark, though I don't remember whether it was John
Bates or John Maurice. Who was the third?
And more importantly, what led Harrod to use it as the cornerstone of
a demand-led growth theory? Or put it in another way, what's the
difference that that principle plays in Clark (whoever of the two) in
relation to its role in Harrod's theory? Or Clark's was also a
demand-led theory (I suspect not, but who knows?)?
Thanks.
Pablo Bortz