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The Cambridge growth theory should be able to generate it... in theory. But I've never seen it done. I think that stuff was dropped after Robinson's "History vs Equilibrium" work when methodology overruled long-term modelling.

But it wouldn't be hard to plug in some distribution figures from Piketty/Saez into a Cambridge equation. But would we good non-ergodic folks accept the result? Especially with that full employment assumption built in...

Beyond that there's Baduri-Marglin but that's just export led stuff.

On Friday, 26 February 2016, Henry, John <[log in to unmask]> wrote:

Colleagues,

 

I had a question from a Levy associate that I could not readily answer. Perhaps some of you can come to my assistance. Does anyone know of any heterodox types who work on non-neoclassical theories of growth from which long-term predictions can be generated? Most of the literature I know of in this area is either old or deals with sustainability. But, the issue addressed is to develop a reasonable counter to conventional theory(ies) that appears both more reasonable and also usable in forecasting.

 

Any takers? Many thanks in advance.

 

John

 

John F. Henry
Levy Economics Institute of Bard College
Annandale-on-Hudson
NY 12504
 
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