Synthesising Marx’s, Keynes’s and Schumpeter’s theories on wage-price dynamics, effective demand, real innovations and financial markets into a coherent whole, this book goes significantly beyond a consideration of their work in isolation. It focuses on exploring and analysing Goodwin’s integrated Marx-Keynes-Schumpeter system (MKS), approaching this from a historical perspective.Chapters start from Harrod’s and Kaldor’s work, reconsidering prominent demand- and supply-side approaches to Keynesian macro-dynamics, supplemented by Goodwin’s distributive cycle. The book presents a baseline MKS-type model, considering the rigorous treatment of uncertainty, opinion dynamics, the movement from flexicurity to social capitalism and democracy, and a high-order MKS macro-model.
The exploration of the MKS model from a historical basis will make this a useful book for macroeconomics and history of economics scholars and students. It will also be helpful for those looking at macrodynamics in more depth.
- ISBN10 1789907993
- ISBN13 9781789907995
- Publish Date 26 January 2021
- Publish Status Active
- Publish Country GB
- Imprint Edward Elgar Publishing Ltd
- Format Hardcover
- Pages 456
- Language English