Category: Macro Economics

Karl Marx Theory of Development

The thought about economic growth of Karl Marx is published in his famous book “Das Kapital”. According to Karl Marx there are five stages through which an economic development takes place. 1.PREMITIVE SOCIETY It is the uncivilised portion/part of the economy in the process of development. In this stage people live in  forest and survive  on …

Kaldor’s Growth Model

Prof. Kalder in his model “A model of economic growth” follows the Harrodian dynamism and analysed the Keynesian techniques of analysis. But his model is quite different form Harrodian and other models. As per Kaldor his model is a piece of economics which tries to show that the ultimate casual effect factor is not saving and …

Says Law of Market

Says Law of Market The classical theory of employment is based on Say’s Law of market. According to this law, “ Supply creates it own demand”. J.B.Say a French Economist propounded this law and according to this law there can never be general over production and general unemployment. According to him, “ it is production which …

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