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  • About
  • Knowledge Centre
    • Economic Growth and the Business Cycle
    • Monetary Policy and Inflation
    • Taxes and Government Spending
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Tag Archives: real gdp growth

Understanding Aggregate Demand: The Last Refuge Of An Economist

Economic Growth and the Business CycleBy Stuart AllsoppJanuary 28, 2021Leave a comment

Mainstream economists use the word demand as a stop gap in lieu of a more detailed understanding of the dynamics driving increases and decreases in output. While individual consumer preferences determine which goods are produced, how much consumers are willing and able to spend has virtually no impact on economic output as a whole. Rather…

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