Piero Ferri expertly broadens the analysis of the canonical growth
cycle approach by presenting a Minsky-Harrod model, examining how
the relationship between income distribution, growth and
unemployment becomes increasingly complex. Exploring this new
technique to generate a process of growth, based not only on
history but disequilibrium, he investigates the current income
distribution debate further and the challenges it faces. Written in
a succinct yet comprehensive style, Piero Ferri begins by
addressing the basic principles, followed by an in-depth look at
growth cycle models and how the Minsky-Harrod integrated model
would help to unravel the current complexities. The empirical
analysis reaches insightful conclusions by justifying the existence
of a variety of results and by studying the distributive loop in a
dynamic context which is prone to instability. Teachers of
macroeconomics and scholars will find this an invaluable read and
will benefit from the practical study and results. Researchers
interested in labour economics and political economy will also find
this a thought-provoking book.
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