The General Theory of Transformational Growth

The General Theory of Transformational Growth
Author: Edward J. Nell
Publisher: Cambridge University Press
Total Pages: 816
Release: 1998-07-13
Genre: Business & Economics
ISBN: 9780521590068

For the past century, economic analysis has been wedded to the idea of equilibrium, in spite of the evident fact that most economic relationships are in flux. The theory of transformational growth in this work replaces equilibrium with history. The role of the market is not to allocate resources, but to generate innovations, which are "selected" by competition in an evolutionary process. These innovations in turn change the way markets work and how they adjust, thus creating new problems and new kinds of pressures to innovate. The core relationships provide the foundations for a theory of monetary circulation, which makes possible a revised Keynesian approach, based on Classical foundations.

Transformational Growth and the Business Cycle

Transformational Growth and the Business Cycle
Author: Edward Nell
Publisher: Routledge
Total Pages: 346
Release: 2005-09-27
Genre: Business & Economics
ISBN: 1134752334

This book examines the concept of Transformational Growth from a number of different historical and geographical perspectives. Transformational Growth sees the economy as an evolving system in which the market selects and finances innovations, changing the character of costs and affecting the pattern of market adjustment. This creates the possibility that markets will work differently in particular historical periods. This book explores market adjustments in two distinct historical periods, 1870-1914 and 1945-the present. The book focuses on six countries: USA, United Kingdom, Canada, Germany, Japan and Argentina. In all cases the earlier period, dominated by craft-based technologies, proves to be the one in which markets adjust through a weakly stabilising price mechanism. By contrast, in the later period, in all cases, with the exception of Argentina, there is no evidence of such a price mechanism, but in its place can be seen a multiplier-accelerator process which, arguably, reflects a change of technology to mass-production.

Keynes's General Theory After Seventy Years

Keynes's General Theory After Seventy Years
Author: R. Dimand
Publisher: Springer
Total Pages: 329
Release: 2010-02-03
Genre: Business & Economics
ISBN: 0230276148

This book provides a comprehensive overview of Keynes' contributions to macroeconomics and offers an in-depth analysis of the contested legacy of The General Theory, a book that marked the emergence of modern macroeconomics from the earlier heritage of monetary theory and business cycle and analysis.

The Coming of Age of Information Technologies and the Path of Transformational Growth.

The Coming of Age of Information Technologies and the Path of Transformational Growth.
Author: Davide Gualerzi
Publisher: Routledge
Total Pages: 193
Release: 2009-10-16
Genre: Business & Economics
ISBN: 1135254893

In this book, Davide Gualerzi employs the concept of transformational growth to explore the investment-driven cycle of expansion of the 1990s in the US economy, and of the of role played by the ICT sector. The book articulates a view of demand-led growth in which the focus is on effective demand, the composition of the growth process and the link between changing composition and expansion.

Growth, Distribution and Effective Demand

Growth, Distribution and Effective Demand
Author: George Argyrous
Publisher: Routledge
Total Pages: 375
Release: 2019-06-21
Genre: Business & Economics
ISBN: 1317469348

Growth, Distribution, and Effective Demand presents original essays on a variety of topics in theoretical and applied economics. The book honors the work of Edward J. Nell and develops interconnected themes that run through the modern Post-Keynesian tradition. The first part deals with the fundamental idea that economic growth is demand-driven, with special attention to policy ramifications. The second theme concerns the connection between economic growth and the structural characteristics of a market economy. These issues are closely linked to a critical tradition that calls into question key elements in orthodox economics. The final part of the book aims to buttress non-orthodox approaches to growth and distribution by critiquing particular aspects of the conventional theory, by elaborating neglected themes in non-orthodox theory, or by exploring some overlooked methodological ideas.

Mainstream Growth Economists and Capital Theorists

Mainstream Growth Economists and Capital Theorists
Author: Marin Muzhani
Publisher: McGill-Queen's Press - MQUP
Total Pages: 569
Release: 2014-06-01
Genre: Business & Economics
ISBN: 0773592113

Mainstream Growth Economists and Capital Theorists provides a historical survey and ideal introduction to modern economics, arguing that due to significant changes in recent years, a re-evaluation is in order. Marin Muzhani presents an informed study of the debates regarding economic growth and development that began in the 1930s in response to the Great Depression. He argues that in the wake of that crisis, the challenge for economists was to understand how to generate stable economic growth in order to prevent future crises. The theories of John Maynard Keynes, in particular, sought to explain the reasons for unemployment and recessions, paving the way for the field of macroeconomics and challenging the basic premises of neoclassical economics. In the late 1930s and 1940s, economists began to extend Keynes' ideas, synthesizing them with neoclassical ideas in order to explain economic growth. This "neoclassical synthesis" would dominate mainstream macroeconomic thought for the next forty years until the mid-1980s with the introduction of endogenous growth theories. Taking into account the historical background, the multitude of interpretations of modern growth models, and the geography of mainstream economists, Mainstream Growth Economists and Capital Theorists will simplify the structure of growth theory for the next generation of economists.

Post-Keynesian Essays from Down Under Volume IV: Essays on Theory

Post-Keynesian Essays from Down Under Volume IV: Essays on Theory
Author: G. Harcourt
Publisher: Springer
Total Pages: 536
Release: 2019-03-15
Genre: Business & Economics
ISBN: 1137475293

Joseph Halevi, G. C. Harcourt, Peter Kriesler and J. W. Nevile bring together a collection of their most influential papers on post-Keynesian thought. Their work stresses the importance of the underlying institutional framework, of the economy as a historical process and, therefore, of path determinacy. In addition, their essays suggest the ultimate goal of economics is as a tool to inform policy and make the world a better place, with better being defined by an overriding concern with social justice. Volume IV explores theory.

Value, Distribution and Capital

Value, Distribution and Capital
Author: Gary Mongiovi
Publisher: Routledge
Total Pages: 414
Release: 2005-09-27
Genre: Business & Economics
ISBN: 1134765061

This book explores some of the most important themes in neo-Ricardian economics. It explores the many contributions of Pierangelo Garengnani to modern economics, including his work in capital theory, the theory of effective demand and stability analysis. Contributors include Paul Samuelson, John Eatwell, Murray Milgate, Edward Nell, Alessandro Roncaglia and Ian Steedman.

Economic Growth and Macroeconomic Stabilization Policies in Post-Keynesian Economics

Economic Growth and Macroeconomic Stabilization Policies in Post-Keynesian Economics
Author: Hassan Bougrine
Publisher: Edward Elgar Publishing
Total Pages: 361
Release: 2020-07-31
Genre: Business & Economics
ISBN: 1786439573

Hassan Bougrine, Louis-Philippe Rochon and the expert contributors to this book explore issues of economic growth and full employment; presenting a clear explanation to stagnation, recessions and crises, including the latest Global Financial Crisis of 2007-8. With a central focus on the role played by government spending, deficits and debt as well as the setting of interest rates, the chapters propose alternative policies that can be used by central banks and fiscal authorities to deal with problems of income inequality, unemployment and slow productivity.

Encyclopedia of Political Economy: L-Z

Encyclopedia of Political Economy: L-Z
Author: Phillip Anthony O'Hara
Publisher: Psychology Press
Total Pages: 696
Release: 1999
Genre: Business & Economics
ISBN: 9780415187183

This groundbreaking Encyclopedia is the very first fully-refereed A-Z compendium of the main principles, concepts, problems, institutions, schools and policies associated with political economy. Based on developments in political economy since the 1960s, it is designed to provide a comprehensive introduction to the field as well as being an authoritative reference work. Undergraduates taking courses in political economy or graduate students coming to the field for the first time will rely on this work as a key point of reference and for direction in their further reading. This lucid work compares for the first time the disparate theories of political economy (e.g, Marxist, Feminist, Sraffian etc.) and emphasizes the application of their principles to real world problems such as inflation, unemployment, development and financial instability. The extensive international team of consultants and contributors has produced a monumental work with truly global perspective.