The Macrodynamics of Capitalism

1. Front Matter

   Pages i-xiv

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2. Temporary Equilibrium, Distribution-Driven Demand Cycles, and Unbalanced Growth

   1. Goodwin Growth Cycles in a Keynes Trade Cycle Framework and Beyond

      Pages 1-20

   2. Keynes, the “Classics,” and the “New Classics”: A Simple Presentation of Basic Differences

      Pages 23-53

   3. After Keynes: Real Growth and (In-)Stability

      Pages 55-105

   4. Distributive Stability by the Reserve Army Mechanism: Marx's Contribution

      Pages 107-147

   5. Inflation, Stagflation, and Disinflation: Friedman — or Marx?

      Pages 149-183

3. Conventional AD-AS Analysis: A Reconsideration

   1. Keynesian Monetary Growth Under Adaptive Expectations

      Pages 187-228

   2. A Classical Revolution in Keynesian Macrodynamics?

      Pages 229-263

4. Matured Keynesian AD-AS Analysis and Beyond

   1. Keynesian AD-AS, Quo Vadis?

      Pages 267-304

   2. Keynesian DAD-DAS Modeling: Baseline Structure and Estimation

      Pages 305-333

   3. Modeling Our Future: Flexicurity Capitalism

      Pages 335-382

5. Back Matter

   Pages 383-399

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This book provides an introduction to advanced macrodynamics, viewed as a di- quilibriumtheoryof?uctuatinggrowth. Itbuildsonanearlierattempttoreformulate 1 the foundations of macroeconomics from the perspective of real markets diseq- librium and the con?ict over income distribution between capital and labor. It does so, not because it wants to support the view that this class con?ict is inevitable, but with the perspective that an understanding of this con?ict may help to formulate socio-economic principles and policies that can help to overcome class con?ict at least in its cruder forms or that can even lead to rationally understandable proce- 2 dures and rules that turn this con?ict into a consensus-driven interaction between 3 capitalists or their representatives and the employable workforce. The book starts from established theories of temporary equilibrium positions, the forces of real growth, and the con?ict over income distribution, represented by basic modeling approaches, which it considers in detail in its Part I in order to prepare the ground for their integration in Part II of the book. In this way we inspect what types of models of disequilibrium, income distribution, and real growth we have at our disposal, as models that have proved to be of real interest and sound from a rigorous modeling perspective.

• Capitalism
• Distributive Cycles
• Flexicurity Capitalism
• Inflation
• Keynes
• Marx
• Mass Umemployment
• Schumpeter
• Stagflation
• Umbalanced Growth

• Department of Economics and Business Administration, Bielefeld University, Bielefeld, Germany

  Peter Flaschel

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