Keynes, Investment Theory and the Economic Slowdown: The Role of Replacement Investment and Q-Ratios (1989)Paperback - 1989, 1 January 1989

This book integrates Keynes' observations about the q-theory into a coherent theory of replacement investment. It demonstrates why, in the absence of a significant post-war depression, business was relieved of the need to replace obsolete capital goods, leading to a period of prolonged stagnation.