Crisis, Distribution and the Role of Effective Demand According to Malthus
Crisis, Distribution and the Role of Effective Demand According to Malthus
Author(s): Alessandro MORSELLISubject(s): Economy, National Economy
Published by: RITHA Publishing
Keywords: capitalist crisis; effective demand; overproduction; unequal exchange; Malthusian economics; distribution theory;
Summary/Abstract: In this work, Malthus is recognized as the true discoverer of the idea of effective demand. The power to produce and the power to consume represent the principles of the Malthusian concept of effective demand which, within the capitalist logic of unequal exchange, becomes the limit within which the mechanism of accumulation can operate. However, this mechanism cannot be left to operate spontaneously, nor can it be manipulated without running the risk of destroying it. Effective demand is assigned the role of major determinant of the price level and, therefore, of distribution and development.
Journal: Journal of Applied Economic Sciences (JAES)
- Issue Year: XXI/2026
- Issue No: 2(92)
- Page Range: 393-411
- Page Count: 19
- Language: English
