ABSTRACT
The multiplier is a central concept in Keynesian and post-Keynesian economics. It is largely what justifies activist full-employment fiscal policy: an increase in fiscal expenditures contributing to multiple rounds of spending, thereby financing itself. Yet, while a copingstone of post-Keynesian theory, it is not universally accepted by
TABLE OF CONTENTS
part |2 pages
Part I Some views on the multiplier
part |2 pages
Part II Some critical insights on the multiplier
part |2 pages
Part III Toward a re-interpretation of the multiplier