Stock-flow consistent model
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Stock-flow consistent models are a family of non-equilibrium macroeconomic models based on a rigorous accounting framework, that seeks to guarantee a correct and comprehensive integration of all the f
Marc Lavoie (* 1954)
Growth imperative
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Growth imperative is a term in economic theory regarding a possible necessity of economic growth. On the micro level, it describes mechanisms that force firms or consumers to increase revenues or cons
Stock-flow consistent model
…relations, the sectoral balances. From some models of "monetary circuit theory", far-reaching consequences were derived, such as the thesis of a "monetary growth imperative", which, however, could be explained by inconsistent accounting. By respecting accounting constraints, "black holes" have to be avoided, where money…
Das Kapital by Karl Marx contains the first theory of a growth imperative, which is still disputed today.
The link between technical progress and resource use is disputed
Smart phone and car: voluntary consumption or necessary increases of individual productivity?