Beyond the Steady State : A Revival of Growth Theory

The essays in this book seek to identify the mechanisms that determine the extent and nature of economic growth. The subject is addressed under four headings: demand-determined growth, technical change, traverse and growth cycles. Front Matter....Pages i-x Introduction....Pages 1-8 Front Matter....Pages 9-9 The Classical Dynamics of Surplus and Accumulation....Pages 11-43 Front Matter....Pages 45-45 Some Notes for an Analysis of Accumulation....Pages 47-71 Accumulation, Effective Demand and Income Distribution....Pages 73-95 Demand Equilibrium....Pages 96-127 Front Matter....Pages 129-129 Transformational Growth: Mass Production and the Multiplier....Pages 131-174 Optimal Choice of Technique and Biased Technical Change: From the Steady State to the Consistent Path....Pages 175-197 Classical Competitive Dynamics and Technical Change....Pages 198-221 Front Matter....Pages 223-223 An Introduction to the Traverse in Economic Theory....Pages 225-234 Traverse Analysis in a Post-Classical Model....Pages 235-263 Accumulation and Structural Disequilibrium....Pages 264-288 Front Matter....Pages 289-289 A Dynamic Analysis of Industrial Capitalism....Pages 291-301 Dynamic Behavior in a Two-Sector Classical Model: Some Simulation Results....Pages 302-322 Cyclical Growth and Intersectoral Dynamics: A Simulation Approach....Pages 323-348 Bifurcation in the Theory of Economic Growth....Pages 349-366 Back Matter....Pages 367-374 "In the past, the theory of economic growth has been fettered to the rock of equilibrium. In this book the authors break free and present institutional transformation as a central feature of growth. New arenas for theory emerge. These are developed in sections covering demand-constrained growth; the nature and role of technical change; the theory of the traverse (transition between equilibrium paths); and the modeling of cycles and catastrophes in a growing economy. Many of the contributions develop formal models, but place them within an explanatory framework making it possible to read the book as an introduction to the philosophy of post-neoclassical economics as well as a rigorous presentation of new findings."--BOOK JACKET Edited By Joseph Halevi, David Laibman And Edward J. Nell. Previous Control Number: B90-39233.