Dynamics of a Capitalist Economy : A Multisectoral Approach

In this book Professor Goodwin eschewing fine-scale minutiae or classical mechanics, has addressed the big picture. His work deals with the great issues of: the class struggle a Ia Karl Marx; predator prey dramas of the Lotka- Volterra type; von Neumann's magisterial model of autonomous growth; Harrodian and Sraffian developments of Keynesian systems in their input-output aspects (or accelerator-multiplier aspects). Professor Lionello Punzo of a postwar generation provides additional chapters of multi-sector dynamics, working from and going beyond the aggregate models of Harrod, Domar, and Solow.

Richard Goodwin is one of those great economic scholars with an inside reputation. Researchers at the frontier of political economy waited eagerly around 1950 for his forthcoming treatise on nonlinear business cycles. His work as a Rhodes Scholar at Oxford and as a brilliant young colleague of Joseph Schumpeter at postwar Harvard raised legitimate hope.