Mathematical Economics and the Dynamics of Capitalism

Mathematical Economics and the Dynamics of Capitalism Synopsis

Richard Goodwin was a pioneer in the use of mathematical tools to understand the dynamics of capitalist economies. This book contains contributions which focus on the rigorous extension of Goodwin's modelling of macro-dynamics and the micro-structures underlying them, and also research with a wider perspective related to Goodwin's vision of an integrated Marx-Keynes-Schumpeter (M-K-S) system of the dynamics of capitalist economies.

The variety of approaches in this book range from detailed business cycle analyses to Schumpeterian processes of creative destruction. They include

• thorough theoretical analysis of delayed dynamical systems.
• empirical studies of Goodwin's classical growth cycle model and the integration of Keynesian aspects of effective demand and of financial mechanisms that impact the real macro-economy.
• micro-economic structural analysis.
• expectations driven aspects of micro-founded business cycle modelling