Degree Year

1961

Document Type

Thesis - Open Access

Degree Name

Bachelor of Arts

Department

Economics

Advisor(s)

Kenneth D. Roose

Keywords

Sales, Investment, Manufacture, Business, Economics

Abstract

Since the appearance of Keynes' General Theory the major point of macro-economic emphasis has been upon the conditions and inducements necessary for capital investment. The general view on the dynamic processes of the economy has been largely altered in this past quarter century. No longer do we believe that what is saved automatically finds its way into investment, with total demand---and, hence, income---remaining constant. The Great Depression the development of fairly decent time series, and the often biting words of Keynes have given business cycle theory a new outlook and a new direction. I do not propose to discuss all these facts in this short paper the consideration of the classical views and the examination of the ideas of Keynes and his successors can well be left to the reader. Instead, our attention shall be focused on a very limited aspect of the problem or capital investment, namely, the plant and equipment expenditures of manufacturers during a short period of time. An attempt will be made to go beyond the simple statistical analysis to discover other factors operative in this period, and their possible effects upon our results.

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