ABSTRACT
This chapter show that the claim is unfounded and that the deficiencies of the concept undermine the reformulations no less than they do the traditional versions. It deals with the effects on investment demand of changes in techniques and in consumption outputs as intertemporal prices change. The idea that savings and investment in intertemporal equilibrium cause no more problems than relative demands for commodities should rather be turned upside down into the one that intertemporal equilibrium raises the problem of savings and investment in basically the same terms as traditional equilibrium does. The necessary existence of stocks for capital goods may of course slow down, relative to many consumption goods, the competitive tendency to the equality between demand and supply prices, but surely it does not make of that tendency any less of an equilibrating tendency than the analogous one for consumption goods.
