Transformational Growth and Effective Demand PDF Download

Author: Edward J. Nell
Publisher: Springer
ISBN: 1349217794
Category : Political Science
Languages : en
Pages : 698

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Book Description
A collection of essays which develop Professor Nell's economic theory of transformational growth. The author's previous titles include "Free Market Conservatism: A Critique of Theory and Practice" and "Beyond the Steady State: A Revival of Growth Theory".

Author: George Argyrous
Publisher: Routledge
ISBN: 1317469348
Category : Business & Economics
Languages : en
Pages : 375

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Book Description
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.

Author: Edward Nell
Publisher: Routledge
ISBN: 1134752326
Category : Business & Economics
Languages : en
Pages : 388

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Book Description
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.

Author: Mark Setterfield
Publisher: Edward Elgar Publishing
ISBN:
Category : Business & Economics
Languages : en
Pages : 328

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Book Description
Economists from Europe, North America, and Australia challenge the notions that demand has only a transitory impact on the utilization of resources; and that the development of resources, and hence of potential output, over time is independent of demand. They argue instead that the role of demand in influencing the utilization of productive resources is chronic, and that there is no supply- determined equilibrium acting as a center of gravity toward which the level of economic activity is inevitably and inexorably drawn. The natural rate of growth, they conclude, is ultimately endogenous to the demand-determined actual rate of growth. Annotation copyrighted by Book News, Inc., Portland, OR

Author: Adriano Birolo
Publisher: Routledge
ISBN: 1136948473
Category : Business & Economics
Languages : en
Pages : 401

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Book Description
Production, Distribution and Trade brings together leading voices in classical and post-Keynesian economics to discuss key issues such as growth, globalization and financial markets in the history of economic thought.

Author: Davide Gualerzi
Publisher: Routledge
ISBN: 1135254893
Category : Business & Economics
Languages : en
Pages : 193

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Book Description
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.

Author: Ryuzo Kuroki
Publisher: Routledge
ISBN: 1136338853
Category : Business & Economics
Languages : en
Pages : 290

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Book Description
It is a little over seventy years since John Maynard Keynes produced his magnum opus, The General Theory of Employment, Interest, and Money. Keynes' staggering achievement has been to remain relevant to economics and other disciplines even today and this book reflects that with an examination on his influence on modern economics. Leading economists from a variety of backgrounds, including Ed Nell and Heinz Kurz have joined forces in this volume with internationally respected Japanese scholars to produce a strong collection of contributions to the debate on Keynes' monumental legacy. This book will be vital reading for historians of economic thought, economic methodologists as well as those economists with an interest in the overall development of their discipline.

Author: Philip Arestis
Publisher: Routledge
ISBN: 1134784244
Category : Business & Economics
Languages : en
Pages : 604

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Book Description
In this volume more than 40 leading economists pay tribute to, and critically evaluate, Geoff Harcourt's work. Contributors include Tony Atkinson, Tony Lawson, Edward Nell and Ian Steedman.

Author: Steve Waller
Publisher: iUniverse
ISBN: 0595204406
Category : Business & Economics
Languages : en
Pages : 378

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Book Description
Economist and author, Steven Waller, provides readers with economic information outside the conventional school of thought based on relatively unknown economic theories. He states that the so-called New Economy is redundant except in static traditional economic thinking. The economy is always new, always changing, and on a path determined by our society and culture. The Heterodox Triad of Understanding provides readers with a basic method to view the economy.

Author: Michael J. Murray
Publisher: Springer
ISBN: 3319464426
Category : Business & Economics
Languages : en
Pages : 243

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Book Description
The contributors to this edited collection argue that a flexible Job Guarantee program able to react to an economy’s fluctuating need for work would stabilize the labor standard, the value of employment in relation to money. During economic downturns, the program would expand to provide more public sector jobs in response to private sector layoffs. It would then contract when economic growth offered private sector employment opportunities. This flexible full employment program would create a balanced, perpetually active labor force, providing the macroeconomic stability necessary to define a functioning labor standard. Just as the gold standard measured the worth of money against gold reserves, John Maynard Keynes argued, so a labor standard ought to measure the value of money in terms of its labor equivalent. However, he failed to account for the fact that, unlike a gold standard, a labor standard does not have any kind of surety that money will continue to match its value in paid work over time. Together, the contributors argue that full employment would provide this missing security and allow authorities to define the value equivalencies of money and labor, the way that money once represented its exact equivalent in gold.