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Growth, Distribution, and Effective Demand: Alternatives to Economic Orthodoxy
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Comments/Reviews
Description: Growth, Distribution, and Effective Demand presents original essays on a variety of topics in theoretical and applied economics. The book honors the work of Edward J. Nell and develops interconnected themes that run through the modern Post-Keynesian tradition. The first part deals with the fundamental idea that economic growth is demand-driven, with special attention to policy ramifications. The second theme concerns the connection between economic growth and the structural characteristics of a market economy. These issues are closely linked to a critical tradition that calls into question key elements in orthodox economics. The final part of the book aims to buttress non-orthodox approaches to growth and distribution by critiquing particular aspects of the conventional theory, by elaborating neglected themes in non-orthodox theory, or by exploring some overlooked methodological ideas.
Selected Contents:
List of Tables and Figures
Preface
Part I. Growth, Distribution and Technical Change
1. Transformational Growth, Interest Rates, and the Golden Rule Marc Lavoie, Gabriel Rodrfguez, and Mario Seccareccia
2. Transformational Growth and the Changing Nature of the Business Cycle Korkut A. Ertnrk
3. A Classical Alternative to the Neoclassical Growth Model Thomas R. Michl and Duncan K. Foley
4. Wealth in the Post-Keynesian Theory of Growth and Distribution Neri Salvadori
5. Transformational Growth and the Universality of Technology Ross Thomson
6. Growth, Productivity, and Employment: Consequences of the New Information and Communication Technologies in Germany and the US Harald Hagemann and Stephan Seiter
7. Educational Insights from Edward Nell's Theory of Transformational Growth Thomas F. Phillips
Part II. Money, Employment and Effective Demand
8. Labor Market Dynamics within Rival Macroeconomic Frameworks Anwar Shaikh
9. Has the Long-Run Phillips Curve Turned Horizontal? Craig Freedman, G.C. Harcourt, and Peter Kriesler
10. Simulating an Employer of Last Resort Program Raymond Majewski
11. Disabled Workers or Disabled Labor Markets? Causes and Consequences George Argyrous and Megan Neale
12. Interest Rates, Effective Demand, and Financial Fragility: Edward Nell and the Trieste Tradition Louis-Philippe Rochon and Matias Vernengo
13. Sraffa in the City: Exploring the Urban Multiplier Gary A. Dymski
14. Elements of Historical Macroeconomics Thorsten Block
Part III. Theory, Method and the History of Ideas
15. Thorstein Veblen and the Machine Process Geoffrey M. Hodgson
16. Is There a Classical Theory of Supply and Demand? David Laibman
17. The Capital Controversy, Stability, and the Income Effect Susan I. Pashkoff
18. Cumulative Causation a la Lowe: Radical Endogeneity, Methodology, and Human Intervention Mathew Forstater
19. The Epistemological Status of Economic Propositions Gary Mongiovi
20. On Some Criticisms of Ricardo's Discussion of Agricultural Improvements Christian Gehrke and Heinz D. Kurz
Contributors
Index
Review(s): ...this diverse volume is a valid and adequate tribute to Edward Nell, given his contributions to theory and policy, as well as his critical outlook on many imporatant economic issues. In an era when conventional modes of thought in economics and elsewhere are claimed to be "the only game in town," such a critical and eclectic collection of papers is definitely welcome. Oeconomicus, Vol.VII
    
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