The General Theory of Transformational Growth: Keynes After Sraffa

by Edward J. Nell

Book Overview

For the past century, economic analysis has been wedded to the idea of equilibrium, in spite of the evident fact that most economic relationships are in flux. The theory of transformational growth in this work replaces equilibrium with history. The role of the market is not to allocate resources, but to generate innovations, which are selected by competition in an evolutionary process. These innovations in turn change the way markets work and how...

• Format: Paperback
• Language: English
• ISBN: 0521023599
• ISBN13: 9780521023597
• Release Date: November 2005
• Publisher: Cambridge University Press
• Length: 816 Pages
• Weight: 2.47 lbs.
• Dimensions: 1.6" x 6.1" x 9.2"