Structural Dynamics and Economic Growth

Richard Arena editor Pier Luigi Porta editor

Format:Hardback

Publisher:Cambridge University Press

Published:3rd May '12

Should be back in stock very soon

This hardback is available in another edition too:

Structural Dynamics and Economic Growth cover

A critical evaluation of Pasinetti's structural dynamics, with contributions from post-Keynesian and neo-classical economists.

An alternative to mainstream models of economic growth emerged from the Cambridge school of Keynesian economists in the 1950s and 1960s. The scholar most associated with this approach to economic growth is Luigi Pasinetti. This collection evaluates the achievements of Pasinetti's structural dynamics, with contributions from post-Keynesian and neo-classical economists.Ever since Adam Smith, economists have been preoccupied with the puzzle of economic growth. The standard mainstream models of economic growth were and often still are based either on assumptions of diminishing returns on capital with technological innovation or on endogenous dynamics combined with a corresponding technological and institutional setting. An alternative model of economic growth emerged from the Cambridge School of Keynesian economists in the 1950s and 1960s. This model - developed mainly by Luigi Pasinetti - emphasizes the importance of demand, human learning and the growth dynamics of industrial systems. Finally, in the past decade, new mainstream models have emerged incorporating technology or demand-based structural change and extending the notion of balanced growth. This collection of essays reassesses Pasinetti's theory of structural dynamics in the context of these recent developments, with contributions from economists writing in both the mainstream and the Cambridge Keynesian traditions and including Luigi Pasinetti, William Baumol, Geoffrey Harcourt and Nobel laureate Robert Solow.

ISBN: 9781107015968

Dimensions: 229mm x 152mm x 19mm

Weight: 590g

310 pages