Comprising specially commissioned essays, this Handbook provides an
expansive overview of alternative theories of economic growth. It surveys major sub-fields
(including classical, Kaleckian, evolutionary, and Kaldorian growth theories) and
highlights cutting-edge issues such as the relationship between finance and growth, the
interplay of trend and cycle, and stability issues in growth theory.
Included in the text are comprehensive interpretations of subjects such as: the
relationship between aggregate supply and demand and long run growth, the interaction of
growth and technical change, and international and regional dimensions of growth.
Alternative theories of economic growth represent a vibrant and ongoing research effort to
understand the macrodynamics of capitalist economies. As such, this Handbook provides a
valuable springboard for further research that will continue the development of these
theories, inspiring both existing researchers and those new to the field to build upon the
body of work the volume represents.
The thought-provoking insights offered by the book’s thorough analysis will
provide economists, graduate students, and advanced undergraduate students with a valuable
reference.
Edited by Mark Setterfield, Professor of Economics, Trinity College,
Hartford, US, Associate Member, Cambridge Centre for Economic and Public Policy, Cambridge
University, UK and Senior Research Associate, International Economic Policy Institute,
Laurentian University, Canada
Contents:
An Introduction to Alternative Theories of Economic Growth
Mark Setterfield
PART I: ALTERNATIVE THEORIES OF ECONOMIC GROWTH: AN OVERVIEW
1. The Structuralist Growth Model
Bill Gibson
2. The Classical Theory of Growth and Distribution
Duncan Foley and Tom Michl
3. Evolutionary Growth Theory
Stan Metcalfe and John Foster
4. The Post-Keynesian Theories of Growth and Distribution: A Survey
Heinz Kurz and Neri Salvadori
5. Growth, Instability and Cycles: Harrodian and Kaleckian Models of Accumulation
and Income Distribution
Peter Skott
6. Surveying Short-Run and Long-Run Stability Issues with the Kaleckian Model of
Growth
Marc Lavoie
7. Kaldor and the Kaldorians
John King
8. The Paths of Transformational Growth
Davide Gualerzi
PART II: AGGREGATE DEMAND, AGGREGATE SUPPLY AND LONG RUN GROWTH
9. On Accounting Identities, Simulation Experiments and Aggregate Production
Functions: A Cautionary Tale for (Neoclassical) Growth Theorists
Jesus Felipe and John McCombie
10. The Endogenous Nature of the ‘Natural’ Rate of Growth
Miguel León-Ledesma and Matteo Lanzafame
11. Reconciling the Growth of Aggregate Demand and Aggregate Supply
Amitava Krishna Dutt
PART III: ECONOMIC GROWTH AND TECHNICAL CHANGE
12. The Classical-Marxian Evolutionary Model of Technical Change: Application to
Historical Tendencies
Gérard Duménil and Dominique Lévy
PART IV: MONEY, FINANCE AND GROWTH
13. ‘Financialisation’ in Post-Keynesian Models of Distribution and Growth: A
Systematic Review
Eckhard Hein and Till van Treeck
14. Inside Debt and Economic Growth: A Cambridge-Kaleckian Analysis
Thomas Palley
PART V: GROWTH AND DISTRIBUTION
15. Feasible Egalitarianism: Demand-Led Growth, Labour and Technology
Ro Naastepad and Servaas Storm
16. Dissent-Driven Capitalism, Flexicurity Growth and Environmental Rehabilitation
Peter Flaschel and Alfred Greiner
17. Profit Sharing, Capacity Utilization and Growth in a Post Keynesian Macromodel
Gilberto Tadeu Lima
18. Gender Equality and the Sustainability of Steady State Growth Paths
Stephanie Seguino and Mark Setterfield
PART VI: INTERNATIONAL AND REGIONAL DIMENSIONS OF GROWTH
19. Export-Led Growth, Real Exchange Rates and the Fallacy of Composition
Robert Blecker and Arslan Razmi
20. Trade and Economic Growth: a Latin American Perspective on Rhetoric and
Reality
Juan Carlos Moreno Brid and Esteban Pérez Caldentey
21. Endogenous Regional Growth: A Critical Survey
Mark Roberts and Mark Setterfield
Index
488 pages, Hardcover
