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ISBN: 1840647108Издательство: Edward Elgar Publishing
?Here is a macroeconomic account of consumption based from the start on innovation and growth, by-passing decades of fruitless debate. Davide Gualerzi presents a new theoretical framework, the dynamics of ?market creation?, and marshalls evidence for it from the US economy in the 1980s. This is a major contribution to the macroeconomics of structural change.? - Ed Nell, New School for Social Research, New York ??The end of all production is consumption? said Adam Smith more than two centuries ago. In this book, Davide Gualerzi brushes aside all literature on static consumer preferences and proposes a dynamic, modern re-interpretation of Smith?s famous statement. Gualerzi marries a long run extension of Keynes?s principle of effective demand with Schumpeter?s insights into the driving forces of technological, market and organisational innovations. The resulting model of structural dynamics shows remarkable richness. The author...