By reconsidering the concept of normal degree of utilization in view of the fact that growth occurs through irregular fluctuations, the paper points out elements of weakness in the formalizations of the principles that underlie the notion of Harrodian instability. Since the latter was at the origin of the adoption of fully adjusted positions to represent long-term trends of the economy, such arguments call into question this way of addressing demand-led growth.

Trezzini, A. (2021). Harrodian Instability: an Unhelpful Analytical Concept. THE REVIEW OF RADICAL POLITICAL ECONOMICS, 53(2), 320-336 [10.1177/0486613420967201].

Harrodian Instability: an Unhelpful Analytical Concept

Attilio Trezzini
2021-01-01

Abstract

By reconsidering the concept of normal degree of utilization in view of the fact that growth occurs through irregular fluctuations, the paper points out elements of weakness in the formalizations of the principles that underlie the notion of Harrodian instability. Since the latter was at the origin of the adoption of fully adjusted positions to represent long-term trends of the economy, such arguments call into question this way of addressing demand-led growth.
Trezzini, A. (2021). Harrodian Instability: an Unhelpful Analytical Concept. THE REVIEW OF RADICAL POLITICAL ECONOMICS, 53(2), 320-336 [10.1177/0486613420967201].
File in questo prodotto:
Non ci sono file associati a questo prodotto.

I documenti in IRIS sono protetti da copyright e tutti i diritti sono riservati, salvo diversa indicazione.

Utilizza questo identificativo per citare o creare un link a questo documento: https://hdl.handle.net/11590/373790
Citazioni
  • ???jsp.display-item.citation.pmc??? ND
  • Scopus 2
  • ???jsp.display-item.citation.isi??? 2
social impact