Thomas, Alex M.
(2015)
On interest, investment and economic growth.
Economic and Political Weekly, 50 (17).
pp. 125-126.
Abstract
In “The Interest Rate Affair,” Sugata Marjit (EPW, 4 April 2015) points out the deficiency of one particular mainstream macroeconomic viewpoint. Marjit’s counterpoint, which we are in broad agreement with, is that a lower rate of interest does “not spur investments” because “[t]he rate of investment depends on other factors” (p 14). However, there are logical issues with his neoclassical economic methodology.
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