Chaotic Economic Dynamics

Contents
Goodwin, Richard M. Professor Emeritus (Economics), University of Siena
1. Capitalism as Creative, Chaotic Evolution by Structural Change 1
2. Classical Dynamics: The Corn Economy 22
3. The von Neumann Model as a Chaotic Attractor 30
4. Growing in Short and Long Waves: Schumpeter 41
5. The Structural and Dynamical Instability of the Modern Economy 56
6. An Analysis of High and Low Growth Rates 72
7. Irregular Waves of Growth from Structural Innovation 85
8. Dynamical Control of Economic Waves by Fiscal Policy 102
9. A Fresh Look at Traditional Cycle Models 111
10. Chaotic, Aperiodic Behaviour from Forced Oscillators 117
Further Reading 131
Index 133