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“After the war, when the problem of deficient effective demand seemed to have faded into the background, a fresh question came to the fore — long-run development. The change arose partly from the internal evolution of economics as an academic subject. The solution of one problem opens up the next; once Keynes’ short-period theory had been established, in which investment plays the key role, it was evidently necessary to discuss the consequences of the accumulation of capital that investment brings about. [p. 92]” — Joan Robinson
After the war, when the problem of deficient effective demand seemed to
have faded into the background, a fresh question came to the fore —
long-run development.
The change arose partly from the internal evolution of economics as an
academic subject. The solution of one problem opens up the next; once
Keynes’ short-period theory had been established, in which investment
plays the key role, it was evidently necessary to discuss the
consequences of the accumulation of capital that investment brings about. [p. 92]