Show simple item record

dc.contributor.authorChai, Andreas
dc.date.accessioned2021-07-13T23:44:45Z
dc.date.available2021-07-13T23:44:45Z
dc.date.issued2017
dc.identifier.issn0936-9937
dc.identifier.doi10.1007/s00191-017-0493-9
dc.identifier.urihttp://hdl.handle.net/10072/405926
dc.description.abstractIn the “Economic Possibilities of our Grandchildren” (Keynes 1933), John Maynard Keynes recognized that the extent to which economic growth delivers better living conditions in the long run is mediated by how the character of demand evolves as households become more affluent. If consumer needs are indeed insatiable, there is little reason to doubt that any extra income generated by economic growth will continuously be converted into increases in demand ad infinitum (Stiglitz 2008). This is the position adopted by much of the growth literature that typically does not consider the possibility of non-homothetic preferences. In contrast, Keynes started to outline a more nuanced approach in this essay. In line with other scholars preceding him (e.g. Menger 1871) – Keynes considered the nature of the underlying needs that motivate consumption and how rising affluence may impact their satisfaction.
dc.languageEnglish
dc.publisherSPRINGER
dc.relation.ispartofpagefrom215
dc.relation.ispartofpageto219
dc.relation.ispartofissue2
dc.relation.ispartofjournalJournal of Evolutionary Economics
dc.relation.ispartofvolume27
dc.subject.fieldofresearchEconomic theory
dc.subject.fieldofresearchApplied economics
dc.subject.fieldofresearchcode3803
dc.subject.fieldofresearchcode3801
dc.subject.keywordsSocial Sciences
dc.subject.keywordsEconomics
dc.subject.keywordsBusiness & Economics
dc.subject.keywordsHappiness
dc.subject.keywordsPreferences
dc.titleRethinking the economic possibilities of our grandchildren: what is the future of consumption? (Editorial)
dc.typeJournal article
dc.type.descriptionC3 - Articles (Letter/ Note)
dcterms.bibliographicCitationChai, A, Rethinking the economic possibilities of our grandchildren: what is the future of consumption?, Journal of Evolutionary Economics, 2017, 27 (2), pp. 215-219
dc.date.updated2021-07-13T23:40:19Z
gro.hasfulltextNo Full Text
gro.griffith.authorChai, Andreas


Files in this item

FilesSizeFormatView

There are no files associated with this item.

This item appears in the following Collection(s)

  • Journal articles
    Contains articles published by Griffith authors in scholarly journals.

Show simple item record