The General Theory of Transformational Growth: Keynes after Sraffa - Hardcover
For the past century, economic analysis has been wedded to the idea of equilibrium, in spite of the evident fact that most economic relationships are in flux. The theory of transformational growth in this work replaces equilibrium with history. The role of the market is not to allocate resources, but to generate innovations, which are "selected" by competition in an evolutionary process. These innovations in turn change the way markets work and how they adjust, thus creating new problems and new kinds of pressures to innovate. The core relationships provide the foundations for a theory of monetary circulation, which makes possible a revised Keynesian approach, based on Classical foundations.
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"Presents a theory of transformational growth that replaces equilibrium with history." Journal of Economic Literature
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- PublisherCambridge University Press
- Publication date1998
- ISBN 10 052159006X
- ISBN 13 9780521590068
- BindingHardcover
- Number of pages816
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The General Theory of Transformational Growth: Keynes after Sraffa by Nell, Edward J. [Hardcover ]
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Book Description Condition: New. Dieser Artikel ist ein Print on Demand Artikel und wird nach Ihrer Bestellung fuer Sie gedruckt. For the last century, economic analysis has been wedded to the idea of equilibrium, in spite of the evident fact that most economic relationships are in flux. In this book, the theory of transformational growth replaces equilibrium with history.Inha. Seller Inventory # 446941377
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Book Description Buch. Condition: Neu. Druck auf Anfrage Neuware - Printed after ordering - For the past century, economic analysis has been wedded to the idea of equilibrium, in spite of the evident fact that most economic relationships are in flux. The theory of transformational growth in this work replaces equilibrium with history. The role of the market is not to allocate resources, but to generate innovations, which are 'selected' by competition in an evolutionary process. These innovations in turn change the way markets work and how they adjust, thus creating new problems and new kinds of pressures to innovate. The core relationships provide the foundations for a theory of monetary circulation, which makes possible a revised Keynesian approach, based on Classical foundations. Seller Inventory # 9780521590068
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