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(s): George Argyrous, Gary Mongiovi, Mathew Forstater
Publisher: Routledge
Year: 2003
Language: English
Pages: 374
City: London
Cover
Half Title
Title Page
Copyright Page
Contents
List of Tables and Figures
Preface
Part I. Growth, Distribution, and Technical Change
1. Transformational Growth, Interest Rates, and the Golden Rule
2. Transformational Growth and the Changing Nature of the Business Cycle
3. A Classical Alternative to the Neoclassical Growth Model
4. Wealth in the Post-Keynesian Theory of Growth and Distribution
5. Transformational Growth and the Universality of Technology
6. Growth, Productivity, and Employment: Consequences of the New Information and Communication Technologies in Germany and the US
7. Educational Insights from Edward Nell’s Theory of Transformational Growth
Part II. Money, Employment, and Effective Demand
8. Labor Market Dynamics within Rival Macroeconomic Frameworks
9. Has the Long-Run Phillips Curve Turned Horizontal?
10. Simulating an Employer of Last Resort Program
11. Disabled Workers or Disabled Labor Markets? Causes and Consequences
12. Interest Rates, Effective Demand, and Financial Fragility: Edward Nell and the Trieste Tradition
13. Sraffa in the City: Exploring the Urban Multiplier
14. Elements of Historical Macroeconomics
Part III. Theory, Method, and the History of Ideas
15. Thorstein Veblen and the Machine Process
16. Is There a Classical Theory of Supply and Demand?
17. The Capital Controversy, Stability, and the Income Effect
18. Cumulative Causation à la Lowe: Radical Endogeneity, Methodology, and Human Intervention
19. The Epistemological Status of Economic Propositions
20. On Some Criticisms of Ricardo’s Discussion of Agricultural Improvements
Contributors
Index
