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Capitalism as Creative, Chaotic Evolution by Structural Change

Richard M. Goodwin

in Chaotic Economic Dynamics

Published in print:
1990
Published Online:
November 2003
ISBN:
9780198283355
eISBN:
9780191596315
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0198283350.003.0001
Subject:
Economics and Finance, Macro- and Monetary Economics

As in meteorology, prediction in economics is hampered by highly irregular, chaotic dynamics. A two‐sector model is employed to examine the complementary growth theories of Schumpeter and Keynes ... More


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