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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: 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: Engelbert Stockhammer
Publisher: Springer
ISBN: 1137357932
Category : Business & Economics
Languages : en
Pages : 329
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Book Description
This volume seeks to go beyond the microeconomic view of wages as a cost having negative consequences on a given firm, to consider the positive macroeconomic dynamics associated with wages as a major component of aggregate demand.
Author: Luiz Carlos Bresser-Pereira
Publisher: Routledge
ISBN: 1136664610
Category : Business & Economics
Languages : en
Pages : 241
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Book Description
Developmental Macroeconomics: Access to Demand, the Exchange Rate and Growth offers a new approach to development economics and macroeconomics. It is a Keynesian-structuralist approach to economics applied to middle income countries that emphasizes the strategic role of demand in creating investment opportunities that are essential to economic development. It also explores crucial links between short-term full employment and financial stability with medium term growth. While this book emphasizes the central role played by the exchange rate it does not ignore other macroeconomic prices (the interest rate, the inflation rate and the profit rate). It develops a group of concepts and models and blends them together in the model of the tendency to the cyclical overvaluation of the exchange rate in developing countries. According to this model, the exchange rate tends to be chronically overvalued. In so far that this is true the exchange rate ceases to be just a short-term problem to be treated by macroeconomics and becomes central to development economics and should be crucially oriented to manage the exchange rate and keep it competitive at the industrial equilibrium level. The book closes with the presentation of new developmentalism – a national development strategy based on the system of models previously discussed that is both an alternative to old national-developmentalism and to liberal orthodoxy or the Washington consensus.
Author: Robert A. Blecker
Publisher: Edward Elgar Publishing
ISBN: 1784718904
Category : Business & Economics
Languages : en
Pages : 598
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Book Description
p.p1 {margin: 0.0px 0.0px 0.0px 0.0px; font: 10.0px Arial} The last few decades have witnessed an outpouring of literature on macroeconomic models in the broad ‘heterodox’ tradition of Marx, Keynes, Robinson, Kaldor and Kalecki. These models yield an alternative analytical framework in which the big questions of our day – such as how inequality is related to growth or stagnation, and whether long-run growth is stable or unstable – can be fruitfully addressed. Heterodox Macroeconomics provides an accessible, pedagogically oriented treatment of the leading models and approaches in heterodox macroeconomics with clear, step-by-step presentations of core models and their solutions, properties and implications.
Author: Tim Jackson
Publisher: Routledge
ISBN: 1317388216
Category : Business & Economics
Languages : en
Pages : 288
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Book Description
What can prosperity possibly mean in a world of environmental and social limits? The publication of Prosperity without Growth was a landmark in the sustainability debate. Tim Jackson’s piercing challenge to conventional economics openly questioned the most highly prized goal of politicians and economists alike: the continued pursuit of exponential economic growth. Its findings provoked controversy, inspired debate and led to a new wave of research building on its arguments and conclusions. This substantially revised and re-written edition updates those arguments and considerably expands upon them. Jackson demonstrates that building a ‘post-growth’ economy is a precise, definable and meaningful task. Starting from clear first principles, he sets out the dimensions of that task: the nature of enterprise; the quality of our working lives; the structure of investment; and the role of the money supply. He shows how the economy of tomorrow may be transformed in ways that protect employment, facilitate social investment, reduce inequality and deliver both ecological and financial stability. Seven years after it was first published, Prosperity without Growth is no longer a radical narrative whispered by a marginal fringe, but an essential vision of social progress in a post-crisis world. Fulfilling that vision is simply the most urgent task of our times.
Author: Blair Fix
Publisher: Springer
ISBN: 3319128264
Category : Business & Economics
Languages : en
Pages : 129
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Book Description
Neoclassical growth theory is the dominant perspective for explaining economic growth. At its core are four implicit assumptions: 1) economic output can become decoupled from energy consumption; 2) economic distribution is unrelated to growth; 3) large institutions are not important for growth; and 4) labor force structure is not important for growth. Drawing on a wide range of data from the economic history of the United States, this book tests the validity of these assumptions and finds no empirical support. Instead, connections are found between the growth in energy consumption and such disparate phenomena as economic redistribution, corporate employment concentration, and changing labor force structure. The integration of energy into an economic growth model has the potential to offer insight into the future effects of fossil fuel depletion on key macroeconomic indicators, which is already manifested in stalled or diminished growth and escalating debt in many national economies. This book argues for an alternative, biophysical perspective to the study of growth, and presents a set of "stylized facts" that such an approach must successfully explain. Aspects of biophysical analysis are combined with differential monetary analysis to arrive at a unique empirical methodology for investigating the elements and dependencies of the economic growth process.
Author: Daron Acemoglu
Publisher:
ISBN:
Category :
Languages : en
Pages : 58
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Book Description
We build a model of firm-level innovation, productivity growth and reallocation featuring endogenous entry and exit. A new and central economic force is the selection between highand low-type firms, which differ in terms of their innovative capacity. We estimate the parameters of the model using US Census micro data on firm-level output, R&D and patenting. The model provides a good fit to the dynamics of firm entry and exit, output and R&D. Taxing the continued operation of incumbents can lead to sizable gains (of the order of 1.4% improvement in welfare) by encouraging exit of less productive firms and freeing up skilled labor to be used for R&D by high-type incumbents. Subsidies to the R&D of incumbents do not achieve this objective because they encourage the survival and expansion of low-type firms.
Author: Deepankar Basu
Publisher: Taylor & Francis
ISBN: 1000246000
Category : Business & Economics
Languages : en
Pages : 359
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Book Description
This book presents a comprehensive overview of three key areas: heterodox macroeconomics, development economics and classical political economy. It offers an alternative macroeconomic framework to analyse policies with an emphasis on issues of equity and justice. With contributions by leading economists from across the world, it examines the growth and distribution of income; trade and finance in developing countries; classical political economy and Marxist theory; dualism in the US economy; economic crisis; and agrarian economy in poor countries. It explores themes such as the effect of an exogenous shock to wage share; Harrodian instability and Steindlian solutions; economics and politics of social democracy; the role of power in the macroeconomy; economic development through the promotion of domestic value chains; and reflections on primitive accumulation. Going beyond the neo-classical tradition, the volume opens up a new vista of economics by discussing unexplored questions. It provides a refreshing treatment of time-tested ideas as well as discussions of recent developments and current research. A major intervention in heterodox macroeconomics and a tribute to macroeconomist Amit Bhaduri, this book will be useful to scholars and researchers of economics, political economy, development studies, sociology, political science, public administration, economic theory, economic history, economic geography and critical studies, as well as professionals, economists and policymakers.
Author: A. P. Thirlwall
Publisher: Edward Elgar Publishing
ISBN: 9781843767466
Category : Business & Economics
Languages : en
Pages : 132
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Book Description
This text charts development economics as it evolved from Adam Smith to new or endogenous growth theory. Thirlwall is critical of the latter & its predecessor neo-classical growth theory, & tries to put back demand as a driving force in growth theory.
Author: Mark Setterfield
Publisher: Edward Elgar Pub
ISBN: 9781847204028
Category : Business & Economics
Languages : en
Pages : 475
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Book Description
Included in the text are comprehensive interpretations of subjects such as: the relationship between aggregate supply and demand and long run growth, the interaction of growth and technical change, and international and regional a vibrant and ongoing research effort to understand the macrodynamics of capitalist economies. As such, this Handbook provides a valuable springboard for further research that will continue the development of these theories, inspiring both existing researchers and those new to the field to build upon the body of work the volume represents. --
