846. Autonomous components of aggregate demand and capital accumulation in Richard Cantillon's Essai? An inquiry through the lens of modern demand-led growth theory

Santiago José Gahn

Roma Tre University

Abstract

Recently, some authors have severely criticised the incorporation of the notion of autonomous components of aggregate demand in demand-led growth theory. We show that these components are present in Richard Cantillon's Essai written in the XVIIth century, and that an implicit demand-led theory of capital accumulation can be also developed based on his writings.

Keywords

Cantillon, Growth theory, History of Economic Thought

Jel Codes

E11, C22