Mathematical Economics and the Dynamics of Capitalism: Goodwin's Legacy Continued

1st Edition

Peter Flaschel, Michael Landesmann

Routledge
Published December 2, 2014
Reference - 302 Pages - 70 B/W Illustrations
ISBN 9780415762014 - CAT# Y163407
Series: Routledge Frontiers of Political Economy

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Summary

Richard Goodwin was a pioneer in the use of mathematical tools to understand the dynamics of capitalist economies. This book contains contributions which focus on the rigorous extension of Goodwin’s modelling of macro-dynamics and the micro-structures underlying them, and also research with a wider perspective related to Goodwin’s vision of an integrated Marx-Keynes-Schumpeter (M-K-S) system of the dynamics of capitalist economies.

The variety of approaches in this book range from detailed business cycle analyses to Schumpeterian processes of creative destruction. They include

  • thorough theoretical analysis of delayed dynamical systems.
  • empirical studies of Goodwin’s classical growth cycle model and the integration of Keynesian aspects of effective demand and of financial mechanisms that impact the real macro-economy.
  • micro-economic structural analysis.
  • expectations driven aspects of micro-founded business cycle modelling

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