Growth, Distribution and Effective Demand: Alternatives to Economic Orthodoxy

by George Argyrous, Gary Mongiovi

Overview

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.

Product Details

ISBN-13:	9780765610096
Publisher:	Taylor & Francis
Publication date:	09/30/2003
Pages:	374
Product dimensions:	6.20(w) x 9.00(h) x 1.10(d)

About the Author

George Argyrous, Gary Amongiovi

Table of 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 a 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