... Elgar, pp. 51 6 – 41. Halevi, J. (19 85) . ‘Effective Demand, Capacity Utilization, and the Sectoral Distributionof Investment’, Économies et Sociétés, 19 (8), 25 45. Halevi, J., Laibman, D. and Nell, ... (Chick 19 92). In this context, the works by Graziani (19 85 19 94) and Parguez (19 84 19 96) constitute another – specifically Franco-Italian – stream where theconcept of effective demand is developed ... Keynes and the classics and stated thatthe equation embodying the consumption function and the multiplier ‘is a meresimplification and ultimately insignificant’ (19 37: 15 2). On the other hand,Harrod...