Synthesising Marxs, Keyness and Schumpeters theories on wageprice dynamics, effective demand, real innovations and financial markets into a coherent whole, this book goes significantly beyond a consideration of their work in isolation. It focuses on exploring and analysing Goodwins integrated MarxKeynesSchumpeter system (MKS), approaching this from a historical perspective.Chapters start from Harrods and Kaldors work, reconsidering prominent demand- and supply-side approaches to Keynesian macrodynamics, supplemented by Goodwins distributive cycle. The book presents a baseline MKS-type model, considering the rigorous treatment of uncertainty, opinion dynamics, the movement from flexicurity to social capitalism and democracy, and a high-order MKS macro-model.The exploration of the MKS model from a historical basis will make this a useful book for macroeconomics and history of economics scholars and students. It will also be helpful for those looking at macrodynamics in more depth. |