Edited by Mark Setterfield, New School for Social Research, New York, US

• Contents1 Introduction: a dissenter’s view of the development of growth theory and the importance of demand-led growthMark SetterfieldPART ONE FUNDAMENTAL ISSUES IN THE THEORY OF DEMAND-LED GROWTH2 Keynesian macroeconomics and the theory of economic growth: putting aggregate demand back in the picture Thomas I. Palley3 The exogeneity of investment: from systemic laws of accumulation and growth to effective demand conditions Joseph Halevi and RŽduane Taouil4 Growth and fluctuations in the USA: a demand-oriented explanation H. Sonmez AtesogluPART TWO KALDORIAN MODELS OF DEMAND-LED GROWTH5 A neo-Kaldorian perspective on the rise and decline of the Golden Age Mark Setterfield and John Cornwall6 The role of the balance of payments in economic growth J.S.L. McCombie and Mark Roberts7 Pitfalls in the theory of growth: an application to the balanceof-payments-constrained growth model Thomas I. PalleyPART THREE KALECKIAN MODELS OF DEMAND-LED GROWTH8 Distribution, demand and growth in neo-Kaleckian macro-models Robert A. Blecker9 Longer-run aspects of Kaleckian macroeconomics Tracy Mott10 The Kaleckian growth model with target return pricing and conflict inflation Marc Lavoie11 Conflict, inflation, distribution and terms of trade in the Kaleckian model Mario CassettiPART FOUR TRAVERSE ANALYSIS AND DEMAND-LED GROWTH12 A model of Kaldorian traverse: cumulative causation, structural change and evolutionary hysteresis Mark SetterfieldPART FIVE STRUCTURAL CHANGE AND DEMAND-LED GROWTH13 Endogenous demand in the theory of transformational growth George Argyrous14 Notes on the transformational growth of demand Edward J. Nell15 Is a biased technological change fuelling dualism? Pascal Petit and Luc SoeteIndex

'Demand-led growth theories call our attention to the powerful effects of factors usually neglected by neoclassical growth economics, including income distribution, institutions, structural change, history, path dependency and demand management policy. . . Setterfield's Demand-led Growth provides a useful introduction to this literature. It should be on the syllabus of graduate macroeconomics courses; most of the essays are suitable for advanced undergraduates as well.'

Edited by Mark Setterfield, New School for Social Research, New York, US

• Contents1 Introduction: a dissenter’s view of the development of growth theory and the importance of demand-led growthMark SetterfieldPART ONE FUNDAMENTAL ISSUES IN THE THEORY OF DEMAND-LED GROWTH2 Keynesian macroeconomics and the theory of economic growth: putting aggregate demand back in the picture Thomas I. Palley3 The exogeneity of investment: from systemic laws of accumulation and growth to effective demand conditions Joseph Halevi and RŽduane Taouil4 Growth and fluctuations in the USA: a demand-oriented explanation H. Sonmez AtesogluPART TWO KALDORIAN MODELS OF DEMAND-LED GROWTH5 A neo-Kaldorian perspective on the rise and decline of the Golden Age Mark Setterfield and John Cornwall6 The role of the balance of payments in economic growth J.S.L. McCombie and Mark Roberts7 Pitfalls in the theory of growth: an application to the balanceof-payments-constrained growth model Thomas I. PalleyPART THREE KALECKIAN MODELS OF DEMAND-LED GROWTH8 Distribution, demand and growth in neo-Kaleckian macro-models Robert A. Blecker9 Longer-run aspects of Kaleckian macroeconomics Tracy Mott10 The Kaleckian growth model with target return pricing and conflict inflation Marc Lavoie11 Conflict, inflation, distribution and terms of trade in the Kaleckian model Mario CassettiPART FOUR TRAVERSE ANALYSIS AND DEMAND-LED GROWTH12 A model of Kaldorian traverse: cumulative causation, structural change and evolutionary hysteresis Mark SetterfieldPART FIVE STRUCTURAL CHANGE AND DEMAND-LED GROWTH13 Endogenous demand in the theory of transformational growth George Argyrous14 Notes on the transformational growth of demand Edward J. Nell15 Is a biased technological change fuelling dualism? Pascal Petit and Luc SoeteIndex

'Demand-led growth theories call our attention to the powerful effects of factors usually neglected by neoclassical growth economics, including income distribution, institutions, structural change, history, path dependency and demand management policy. . . Setterfield's Demand-led Growth provides a useful introduction to this literature. It should be on the syllabus of graduate macroeconomics courses; most of the essays are suitable for advanced undergraduates as well.'

Edited by Mark Setterfield, New School for Social Research, New York, US

• Contents1 Introduction: a dissenter’s view of the development of growth theory and the importance of demand-led growthMark SetterfieldPART ONE FUNDAMENTAL ISSUES IN THE THEORY OF DEMAND-LED GROWTH2 Keynesian macroeconomics and the theory of economic growth: putting aggregate demand back in the picture Thomas I. Palley3 The exogeneity of investment: from systemic laws of accumulation and growth to effective demand conditions Joseph Halevi and RŽduane Taouil4 Growth and fluctuations in the USA: a demand-oriented explanation H. Sonmez AtesogluPART TWO KALDORIAN MODELS OF DEMAND-LED GROWTH5 A neo-Kaldorian perspective on the rise and decline of the Golden Age Mark Setterfield and John Cornwall6 The role of the balance of payments in economic growth J.S.L. McCombie and Mark Roberts7 Pitfalls in the theory of growth: an application to the balanceof-payments-constrained growth model Thomas I. PalleyPART THREE KALECKIAN MODELS OF DEMAND-LED GROWTH8 Distribution, demand and growth in neo-Kaleckian macro-models Robert A. Blecker9 Longer-run aspects of Kaleckian macroeconomics Tracy Mott10 The Kaleckian growth model with target return pricing and conflict inflation Marc Lavoie11 Conflict, inflation, distribution and terms of trade in the Kaleckian model Mario CassettiPART FOUR TRAVERSE ANALYSIS AND DEMAND-LED GROWTH12 A model of Kaldorian traverse: cumulative causation, structural change and evolutionary hysteresis Mark SetterfieldPART FIVE STRUCTURAL CHANGE AND DEMAND-LED GROWTH13 Endogenous demand in the theory of transformational growth George Argyrous14 Notes on the transformational growth of demand Edward J. Nell15 Is a biased technological change fuelling dualism? Pascal Petit and Luc SoeteIndex

'Demand-led growth theories call our attention to the powerful effects of factors usually neglected by neoclassical growth economics, including income distribution, institutions, structural change, history, path dependency and demand management policy. . . Setterfield's Demand-led Growth provides a useful introduction to this literature. It should be on the syllabus of graduate macroeconomics courses; most of the essays are suitable for advanced undergraduates as well.'