Transformational Growth and the Business Cycle
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€235.60
Average Variable Cost
Canada's GDP
Canada’s GDP
Category=KC
Category=KCG
Category=KJK
Category=KJMV2
Category=KJS
Cyclical Indicator
Dummy Variable
Durbin Watson Statistic
economy
eq_bestseller
eq_business-finance-law
eq_isMigrated=1
eq_isMigrated=2
eq_nobargain
eq_non-fiction
family
GNP Series
Logarithmic Growth Rate
Machine Tool Builders
Machine Tool Industry
Marginal Cost
mass
Mass Production Economies
Mass Production Technologies
Minimum Optimal Scale
money
Money Wages
NBC
Nominal GNP
Pool Ordering
product
Product Wage
production
RBC Model
real
Real GNP
Real Wage
technology
Transformational Growth
UK Business Cycle
Vice Versa
wage
wages
World War Ii Canada
Product details
- ISBN 9780415148559
- Weight: 680g
- Dimensions: 156 x 234mm
- Publication Date: 11 Dec 1997
- Publisher: Taylor & Francis Ltd
- Publication City/Country: GB
- Product Form: Hardback
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This book examines the concept of Transformational Growth from a number of different historical and geographical perspectives. Transformational Growth sees the economy as an evolving system in which the market selects and finances innovations, changing the character of costs and affecting the pattern of market adjustment. This creates the possibility that markets will work differently in particular historical periods.
This book explores market adjustments in two distinct historical periods, 1870-1914 and 1945-the present. The book focuses on six countries: USA, United Kingdom, Canada, Germany, Japan and Argentina. In all cases the earlier period, dominated by craft-based technologies, proves to be the one in which markets adjust through a weakly stabilising price mechanism. By contrast, in the later period, in all cases, with the exception of Argentina, there is no evidence of such a price mechanism, but in its place can be seen a multiplier-accelerator process which, arguably, reflects a change of technology to mass-production.
Edward Nell is Matthew B. Smith Professor of Economics at the New School for Social Research, New York. He is the author of Making Sense of a Changing Economy, (Routledge, 1996).
