Great article; though I am somewhat confused about this line:
> and it would mean higher aggregate demand but lower effective demand since most people would make too little to afford anything.
I don't really understand the distinction between aggregate and effective here and the only hits I found searching it up were in relation to marxian stuff.
Great article; though I am somewhat confused about this line:
> and it would mean higher aggregate demand but lower effective demand since most people would make too little to afford anything.
I don't really understand the distinction between aggregate and effective here and the only hits I found searching it up were in relation to marxian stuff.