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Transformational Growth and the Business Cycle : Studies in Transformational Growth - Edward Nell

Transformational Growth and the Business Cycle

Studies in Transformational Growth

By: Edward Nell (Editor)

Hardcover Published: 11th December 1997
ISBN: 9780415148559
Number Of Pages: 384

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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.

Industry Reviews

..."a useful book for historians and economists interested in how and why industrial economies have evolved during the past century." -"Journal of Economic History

List of illustrationsp. vii
List of tablesp. viii
List of contributorsp. x
Prefacep. xii
The idea of Transformational Growthp. 1
From craft to mass production: The changing character of market adjustmentp. 3
Methods and methodology in historical macroeconomicsp. 61
Industrial historyp. 85
The US economy during World War IIp. 87
Transformational Growth and the merger movement from 1895 to 1904: Some theoretical, empirical and historical evidencep. 112
Studies of stylized factsp. 133
Transformational Growth and the business cyclep. 135
UK Business cycles: Stylized facts and the marginal cost/marginal productivity debatep. 163
Product wages and the elasticities of effective demand in the United States during the old and the new business cyclesp. 188
Price v. output adjustments: The changing nature of the business cycle in Germany, 1871-1989p. 199
Transformational Growth in Japanp. 232
Argentina: Transformational Growth in the absence of the new cyclep. 254
Canada and Argentina: A comparisonp. 280
Implications for economic analysisp. 285
On Transformational Growthp. 287
Conclusionp. 313
Referencesp. 332
Indexp. 358
Table of Contents provided by Syndetics. All Rights Reserved.

ISBN: 9780415148559
ISBN-10: 0415148553
Series: Studies in Transformational Growth
Audience: Tertiary; University or College
Format: Hardcover
Language: English
Number Of Pages: 384
Published: 11th December 1997
Country of Publication: GB
Dimensions (cm): 24.77 x 16.51  x 3.18
Weight (kg): 0.79
Edition Number: 1