The report contains several points that are consistent with a post-#Keynesian approach. But its overall framework remains investment-led and capital-mobilization-focused, rather than explicitly demand-led, chart #LudovicSubran #AllianzResearch

Investment does not have to wait for prior saving. Credit creation finances investment, and the resulting expenditure generates income from which saving subsequently emerges. This reverses the causality embedded in Slok's #apolloglobal framework. And there is a very #Keynesian irony here: