Economics of Demand-Led Growth

Challenging the Supply-side Vision of the Long Run

Inbunden, Engelska, 2002

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Beskrivning

The Economics of Demand-Led Growth is a collection of specially written essays that develop and apply the theory of demand-led growth.Long-run growth is usually portrayed as a supply-determined process. The contributions to this volume, however, are rooted in the theory of demand-led growth. In addition to general discussions of the role of demand in the long-run, the volume contains essays in the Kaldorian and Kaleckian traditions, and a section on the relationship between demand-led growth and structural change. The conclusion reached is that current neglect of the role of demand in analyses of long-run growth is unwarranted. This book will prove indispensable to academic economists and graduate students in economics for its contributions to the field of macrodynamics and, in particular, its development of non-neoclassical approaches to macrodynamics.

Produktinformation

Utgivningsdatum:2002-06-26
Mått:156 x 234 x undefined mm
Format:Inbunden
Språk:Engelska
Förlag:Edward Elgar Publishing Ltd
ISBN:9781840641776

Utforska kategorier

Nationalekonomi inom Ekonomi och Ledarskap
Makroekonomi inom Ekonomi och Ledarskap

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

Recensioner i media

'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.'

Innehållsförteckning

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