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
Introduction, Part 1. Nonlinear Macrodynamics: Theory, 1. Coexistence of Multiple Business Cycles in Goodwin's 1951 Model, 2. An Encompassing Theory of Macroeconomic Growth and Fluctuation, 3. Kaleckian Investment and Employment Cycles in Post-war Industrialized Economies, 4. A Goodwin-Cycle with Changing Regimes of Industrial Relations, 5. Varieties of Capitalism: The Flexicurity Model, 6. Goodwin Cycles and the U.S. Economy, 1948-2004, Part 2. Nonlinear Macrodynamics: Empirical Analysis, 7. The Classical Growth Cycle after fifteen years of new observations, 8. Debt-Equity Cycles in the 20th Century: Empirical Evidence and a Dynamic Keynesian Model, 9. Monetary Policy Rules in Small Open Economies: A Keynesian Perspective, 10. Semi-Structural Keynes-Goodwin Modelling: Elaboration and Calibration of a Baseline Theoretical Framework, Part 3. Multisectoral and Microfounded Approaches, 11. Decomposition Methods for Analyzing Intra-regional and Inter-regional Income Distribution, 12. Computational Explorations of Vertically Coupled Markets, 13. Microfounded Animal Spirits and Goodwinian Income Distribution Dynamics, 14. Goodwin's Structural Economic Dynamics in the Context of Globalisation