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Beyond Capital Fundamentalism : Harrod, Domar and the History of Development Economics

Boianovsky, Mauro - 2017

The origins of “capital fundamentalism” – the notion that physical capital accumulation is the primary determinant of economic growth – have been often ascribed to Harrod's and Domar's proposition that the rate of growth is the product of the saving rate and of the output-capital ratio....

Persistent link: https://www.econbiz.de/10012970842

Solow's struggle with medium-run macroeconomics : 1956-1995

Assous, Michaël - 2013

publication of A Critical Essay on Modern Macroeconomic Theory co-written with Frank Hahn. This narrative involves different …

Persistent link: https://www.econbiz.de/10011706942

What Marx means today

Sinn, Hans-Werner - 2017

Marx made significant contributions to macroeconomics, laying the grounds for both Keynes's theory of aggregate demand … and Schumpeter's theory of creative destruction. His law of the tendency of the rate of profit to fall parallels Alvin … Hansen's theory of secular stagnation which has recently received much attention among scholars studying the financial crises …

Persistent link: https://www.econbiz.de/10011653595

Some Comments on the Sraffian Supermultiplier Approach to Growth and Distribution

Nikiforos, Michalis - 2018

The paper discusses the Sraffian supermultiplier (SSM) approach to growth and distribution. It makes five points. First, in the short run the role of autonomous expenditure can be appreciated within a standard post-Keynesian framework (Kaleckian, Kaldorian, Robinsonian, etc.). Second, and...

Persistent link: https://www.econbiz.de/10012919034

Optimum saving and growth : Harrod on dynamic welfare economics

Boianovsky, Mauro - 2017

In the 1960s and 1970s Harrod shifted the emphasis of his research in economic dynamics from the study of business cycles (instability principle) to the investigation of the growth process. As part of that, he restated his concept of the natural growth rate as an optimum welfare rate. The...

Persistent link: https://www.econbiz.de/10011610195

The spread of Keynesian economics : a comparison of the Belgian and Italian experiences

Maes, Ivo - 2007

Keynesian economics dominated economic thought and macroeconomic policy-making in the 1950s and 1960s. However, the diffusion of Keynesian economics has been uneven. In this paper, we compare the spread of Keynesian economics in two continental European countries: Belgium and Italy. We focus on...

Persistent link: https://www.econbiz.de/10011618153