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In this important and original book, Professor Sylos Labini offers
an analysis of growth that is at once theoretical, historical and
statistical. The central aim of neoclassical economics has been to
discover the equilibrium values of prices, incomes, employment and
production. Economic Growth and Business Cycles, by contrast, seeks
to understand the logic behind the movement of these quantities
over time. Drawing upon a tradition in economics which dates from
Adam Smith, while making use of modern analytical techniques, Sylos
Labini views the process of growth as central to economic theory.
Economic growth is seen not as a systematic increase of output
conceived as an homogeneous aggregate, but rather as a process of
structural change, affecting the composition of employment and
bringing about changes in market forms, output, income distribution
and the system of prices. Economic Growth and Business Cycles will
be welcomed by students and teachers of economics who wish to
become acquainted with an original approach to the process of
growth.
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