The Macrodynamics of Capitalism: Elements for a Synthesis of Marx, Keynes and Schumpeter


This book provides an introduction to advanced macrodynamics, viewed as a disequilibrium theory of fluctuating growth. It builds on an earlier attempt to reformúlate the foundations of macroeconomics from the perspective of real markets disequilibrium and the conflict over income distribution between capital and labor. It does so, not because it wants to support the view that this class conflict is inevitable, but with the perspective that an understanding of this conflict may help to formúlate socio-economic principles and policies that can help to overcome class conflict at least in its cruder forms or that can even lead to rationally understandable procedures and rules that turn this conflict into a consensus-driven interaction between capitalists or their representatives and the employable workforce.
CONTENTS
Preface
1. Goodwin Growth Cycles in a Keynes Trade Cycle Framework and Beyond
2. Keynes, the “Classics,” and the “New Classics”: A Simple Presentation of Basic Differences
3. After Keynes: Real Growth and (In-)Stability
4. Distributive Stability by the Reserve Army Mechanism: Marx’s Contribution
5. Inflation, Stagflation, and Disinflation: Friedman – or Marx?
6. Keynesian Monetary Growth Under Adaptive Expectations
7. A Classical Revolution in Keynesian Macrodynamics?
8. Keynesian AD-AS, Quo Vadis?
9. Keynesian DAD-DAS Modeling: Baseline Structure and Estimation
10. Modeling Our Future: Flexicurity Capitalism
Mathematical Appendix: Some Useful Theorems
References