Essays in Macrodynamic Economics
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This collection of essays is concerned with the behavioral and structural problems of growing advanced economies. Can these economies achieve and maintain stable growth without inflation, unemployment and balance of payments difficulties?
Part 1 looks at the perspective and prospective transition from macrostatics to macrodynamics. Part 2 examines the analytical and operational problems of advanced economies in varying stages of their development and with changing institutional and technological complexes. It also discusses boldly such controversial and paradoxical issues as the dichotomy between the post-Keynesian and neo-classical approach, the clash between macroeconomic desiderata, the incongruity between internal and external equilibria, the contradiction between laissez-faire and the policy-orientated patterns of development, and the contrast between macro- and multisectoral models of growth. The possibility (and desirability) of adding, to both Keynes's General Theory and post-Keynesian dynamics, such new dimensions as are attuned to the pressing and mounting needs of our restless society is discussed in both Parts.
The ideas put forward by Professor Kurihara are intended to stimulate further hypothesis-making in the perplexing yet intriguing field of economic development. The book should prove useful to serious (and curious) students of 'dynamic economics' and 'development planning' not only in advanced economies but also in developing countries.
Kenneth K. Kurihara is an internationally known growth theorist who has already published nine books including Applied Dynamic-Economics, Macroeconomics and Programming and Monetary Theory and Public Policy. He is at present Distinguished Professor of Economic Theory at State University of New York, at Binghamton.