Essays in macrodynamic economics
- London George Allen and Unwin 1972
- 160p.
I have assembled here those essays of mine which were contributed to the far-flung international journals and symposiums specified (involving Germany, Italy, Japan, Switzerland, UK, and US), and which were addressed principally to the behavioural and structural problems of growing advanced economies. Part I of this volume deals with the perspective and prospective transition from macro- statics to macrodynamics. I have in this first part, as well as in the second part, indicated the possibility and desirability of adding such new dimensions to both Keynes's General Theory and post- Keynesian dynamics as are attuned to the pressing and mounting needs of our restless economic society. Part 11 encompasses the analytical and operational problems of advanced economies in varying stages of their evolution and with changing institutional-technological complexes. I have in this second part endeavoured to throw into bold relief the dichotomy between the post-Keynesian and the neo-classical approach, the antinomy between macroeconomic desiderata,. the."iw;Qmiruity between internal and external equilibria, the comparison between the high-gear and the low-gear growth respectively of maturing and mature economies, the contradistinction between the laissez- faire and the policy-oriented pattern of development, and the contrast between macro and muItisectoral models of growth. These controversial and paradoxical issues have been discussed rather pointedly, albeit with a view to emerging with eclectic rapprochement.