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John Maynard Keynes, the British economist, explained the new dynamic, and the importance of demand rather than supply in restarting the economy.
Yet the clear lesson from the Great Depression is that the greatest constraints and the most consequential choices have very little to do with economics.The Depression was not, fundamentally, about the failure to understand the importance of demand and the way an economy could become stuck operating well below potential.
Analysis of neighborhood load profiles puts into perspective the importance of demand diversity in terms of building characteristics and load simultaneity, highlighting the crucial role of back-up electrical loads.
Despite the recognized importance of demand side management (DSM) for mitigating the impact of variable energy resources and reducing the system costs, the academic and industrial literature have taken divergent approaches to DSM implementation.
At the same time, the high importance of demand pull from customers and voluntary codes of conduct or voluntary sector agreements as drivers for introducing clean innovations, is a reminder of the internal strength of the private innovation machine, which governments need to leverage.
The current bias toward supply side solutions and over-reliance on the public sector also ignores the importance of demand side factors and influence of market systems that are often critical for long-term success [ 35].
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In our times, D.I.Y. enthusiasts, hackers, and members of the maker movement are some of the people who intuitively understand the importance of demanding tools, without rejecting the idea that technology can improve the human condition.
Young adults stressed the importance of demanding to see consultants during appointments and of complaining to staff when they felt that they were receiving sub-standard care.
More important, though, the importance of Chinese demand may have been overstated.
The case study provides different results when demand elasticity is excluded, underscoring the importance of incorporating demand response in the evaluation of electricity generation policies.
And that common ground includes the importance of stimulating demand through increased investment.
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magnitude of demand
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