Abstract
We have seen in the previous chapter that the scale of investment depends on the relation between the rate of interest and the schedule of the marginal efficiency of capital corresponding to different scales of current investment, whilst the marginal efficiency of capital depends on the relation between the supply price of a capital-asset and its prospective yield. In this chapter we shall consider in more detail some of the factors which determine the prospective yield of an asset.
Chapter 12 in The General Theory of Employment, Interest and Money (1936), pp. 147–64.
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© 1995 Macmillan Publishers Limited
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Keynes, J.M. (1995). The State of Long-Term Expectation. In: Estrin, S., Marin, A. (eds) Essential Readings in Economics. Palgrave, London. https://doi.org/10.1007/978-1-349-24002-9_16
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DOI: https://doi.org/10.1007/978-1-349-24002-9_16
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