The late 1960s witnessed a great stride made in disequilibrium theory. In his two papers, “The Keynesian counter-revolution: A theoretical appraisal (in Hahn FH & Brechling FPR ed. The Theory of Interest Rates, Macmillan, London, 1965)” and “A reconsideration of the micro-foundations of monetary theory (Western Economic Journal, issue No. 6, 1967),” American economist Robert Wayne Clower came up with a notable argument on disequilibrium theory: Economic instability comes not from a specific market but from discordance between markets, a discordance that stems from the incompleteness of these markets, and of the information transmission mechanism between them. If this argument on disequilibrium is applied to analysis of economic growth and fluctuations, the result will be obvious: Not only will the equilibrium equation of growth predicated on the complete conversion of savings into investment and the full utilization of the production capacities thus yielded become void, but the supposition about fluctuations that lists the restrictions of income and its changes on effective demand as a major destabilizing factor in an economic system will also be considered as having major limitations.