And yes, highway transport has storage (automobile parks) it has demand management (drivers who don’t need to journey through the peak are inclined to keep away from doing so), it has transmission (highways), it has distribution (local roads), it’s operated as a co-ordinated system (traffic alerts) and so on.
Excess capability is then solely kept in motion by a continuous process that shifts the burden of this excess on to 1 inflated financial system after one other.
Therefore, in the brand new Keynesian mannequin of debt-deflation the change from extra typical neoclassical models is that they allow for a sudden (and exogenous) discount in the debt restrict that agents can borrow to cut back the pure rate.
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Therefore, in the brand new Keynesian mannequin of debt-deflation the change from extra typical neoclassical models is that they allow for a sudden (and exogenous) discount in the debt restrict that agents can borrow to cut back the pure rate.
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