Mainstream growth economists and capital theorists : a survey / Marin Muzhani.

Format:

Book

Author/Creator:

Muzhani, Marin, author.

Language:

English

Subjects (All):

Economics--History--20th century.

Economics.

Physical Description:

1 online resource (569 p.)

Edition:

1st ed.

Place of Publication:

Montréal, Québec : McGill-Queen's University Press, 2014.

Language Note:

English

Summary:

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.

Contents:

part one Origins of modern growth theory. Growth, Technological Progress, and Unemployment in the Thought of the Classical Economists

The Beginning of the Modern Theory of Growth: The Neo-Keynesians

Theory of Distribution and Growth: The Old Keynesians

part two Theory of the rise and growth decline of the neoclassical. Neoclassical Theory of Growth: Factor Substitution, Optimal Growth, and Money Growth

Technological Progress and Growth in Neoclassical Perception

Some Accounts of Capital Controversy and Growth

Theories of Growth and Convergence between Poor and Rich Countries: The Early Development Theories

Intermezzo: Overall Conclusions about the Evolution of Growth Theories in the First Four Decades of the Postwar Period

part three Endogenous growth theory. Toward the New Theory of Growth: Endogenous Growth and Technological Transformation

Endogenous Growth: Innovation and New Consumer Goods

Endogenous Growth and the New Schumpeterian Approach of "Creative Destruction"

Overall Conclusions about the Survey on Growth Economists and Capital Theorists.

Notes:

Includes bibliographical references and index.

Description based on online resource; title from PDF title page (ebrary, viewed December 18, 2014).

ISBN:

9780773592117

0773592113

9780773592100

0773592105

OCLC:

900244310