Unbalanced growth from a balanced perspective / Carl Chiarella [and five others].

Format:

Book

Author/Creator:

Chiarella, Carl, author.

Contributor:

Edward Elgar Publishing, publisher.

Language:

English

Subjects (All):

Macroeconomics.

Economics--History.

Economics.

Keynesian economics.

Physical Description:

1 online resource (456 pages)

Place of Publication:

Cheltenham, England ; Northampton, Massachusetts : Edward Elgar Publishing, [2021]

Summary:

"Synthesising Marx's, Keynes's and Schumpeter's theories on wage-price dynamics, effective demand, real innovations and financial markets into a coherent whole, this book goes significantly beyond a consideration of their work in isolation. It focuses on exploring and analysing Goodwin's integrated Marx-Keynes-Schumpeter system (MKS), approaching this from a historical perspective. Chapters start from Harrod's and Kaldor's work, reconsidering prominent demand- and supply-side approaches to Keynesian macro-dynamics, supplemented by Goodwin's distributive cycle. The book presents a baseline MKS-type model, considering the rigorous treatment of uncertainty, opinion dynamics, the movement from flexicurity to social capitalism and democracy, and a high-order MKS macro-model. The exploration of the MKS model from a historical basis will make this a useful book for macroeconomics and history of economics scholars and students. It will also be helpful for those looking at macrodynamics in more depth"-- Provided by publisher.

Contents:

Contents: 1. After the GT: Synthesizing Harrod's Knife-Edge Growth and Kaldor's Model of the Trade Cycle

Part I Output Expansion, Inflation and Fluctuating Growth from a Supply-Side Angle

2. Keynes-Wicksell-Goodwin Monetary Growth and the Cascade of Stable Matrices Method

3. Output Expansion, Effective Demand and the Conflict about Income Distribution

4. Effective Demand and Real Wage Barriers as Causes of Chronic Inflation

5. The Dynamics of Liquidity / Profit-Rate Cycles With Helmar Nunes Moreira

6. Being Keynesian in the Short Term and Classical in the Long Term. The Traverse to Classical Long-Term Equilibrium / Gérard Duménil and Dominique Lévy

Part II Firms, Debt and Income Distribution from a Demand-Side Angle

7. Keynes-Metzler-Goodwin (KMG) Model Building. A Baseline Approach to Keynesian Disequilibrium Growth

8. Stock-Flow Consistent Kaleckian Models of Monetary Growth

9. Firms, Asset Markets and Income Distribution: Lance Taylor's Structuralist Approach With Daniele Tavani

10. Aggregate Demand in Classical-Marxian Growth Models / Amitava Dutt

11. A Baseline Model of the Goodwin Marx-Keynes-Schumpeter System

Part III The Road Ahead: MKS-type Socio-economic Structures of Capital Accumulation

12. 21th century 'Capitalism, Socialism and Democracy' from the historical perspective With Hans-Heinrich Nolte

13. Credit-Driven Investment, Finance and Dual Labor Markets in High-Order Macrodynamics of the MKS type

14. Savings under Uncertainty. A General Model

15. Inflation, Exchange Rate and Opinion Dynamics in a Symmetric Two-Country Framework

16. Harrod/Kaldor-Like Interactions of the Wage/Price-Spiral with Capital Accumulation: Wage-led Marxian Distributive Cycles

Index.

Notes:

Includes bibliographical references and index.

Description based on print version record.

ISBN:

1-78990-800-0