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Comprising specially commissioned essays, this Handbook provides an expansive overview of alternative theories of economic growth. It surveys major sub-fields (including classical, Kaleckian, evolutionary, and Kaldorian growth theories) and highlights cutting-edge issues such as the relationship between finance and growth, the interplay of trend and cycle, and stability issues in growth theory.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 dimensions of growth. Alternative theories of economic growth represent 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.The thought-provoking insights offered by the book’s thorough analysis will provide economists, graduate students, and advanced undergraduate students with a valuable reference.
Edited by Mark Setterfield, New School for Social Research, New York, US
Contents:An Introduction to Alternative Theories of Economic GrowthMark SetterfieldPART I: ALTERNATIVE THEORIES OF ECONOMIC GROWTH: AN OVERVIEW1. The Structuralist Growth ModelBill Gibson 2. The Classical Theory of Growth and DistributionDuncan K. Foley and Thomas R. Michl 3. Evolutionary Growth TheoryJ. Stan Metcalfe and John Foster4. The Post-Keynesian Theories of Growth and Distribution: A SurveyHeinz D. Kurz and Neri Salvadori5. Growth, Instability and Cycles: Harrodian and Kaleckian Models of Accumulation and Income DistributionPeter Skott6. Surveying Short-run and Long-run Stability Issues with the Kaleckian Model of GrowthMarc Lavoie7. Kaldor and the KaldoriansJohn E. King8. The Paths of Transformational GrowthDavide GualerziPART II: AGGREGATE DEMAND, AGGREGATE SUPPLY AND LONG-RUN GROWTH9. On Accounting Identities, Simulation Experiments and Aggregate Production Functions: A Cautionary Tale for (Neoclassical) Growth TheoristsJesus Felipe and John McCombie10. The Endogenous Nature of the ‘Natural’ Rate of GrowthMiguel A. León-Ledesma and Matteo Lanzafame11. Reconciling the Growth of Aggregate Demand and Aggregate SupplyAmitava Krishna DuttPART III: ECONOMIC GROWTH AND TECHNICAL CHANGE12. The Classical-Marxian Evolutionary Model of Technical Change: Application to Historical TendenciesGérard Duménil and Dominique Lévy PART IV: MONEY, FINANCE AND GROWTH13. ‘Financialisation’ in Post-Keynesian Models of Distribution and Growth: A Systematic ReviewEckhard Hein and Till van Treeck14. Inside Debt and Economic Growth: A Neo-Kaleckian AnalysisThomas I. PalleyPART V: GROWTH AND DISTRIBUTION15. Feasible Egalitarianism: Demand-led Growth, Labour and TechnologyC.W.M. Naastepad and Servaas Storm16. Dissent-Driven Capitalism, Flexicurity Growth and Environmental RehabilitationPeter Flaschel and Alfred Greiner17. Profit Sharing, Capacity Utilization and Growth in a Post-Keynesian MacromodelGilberto Tadeu Lima18. Gender Equality and the Sustainability of Steady State Growth PathsStephanie Seguino and Mark SetterfieldPART VI: INTERNATIONAL AND REGIONAL DIMENSIONS OF GROWTH19. Export-led Growth, Real Exchange Rates and the Fallacy of CompositionRobert A. Blecker and Arslan Razmi20. Trade and Economic Growth: A Latin American Perspective on Rhetoric and RealityJuan Carlos Moreno Brid and Esteban Pérez Caldentey21. Endogenous Regional Growth: A Critical SurveyMark Roberts and Mark SetterfieldIndex