Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/277485 
Year of Publication: 
2020
Citation: 
[Journal:] European Journal of Economics and Economic Policies: Intervention (EJEEP) [ISSN:] 2052-7772 [Volume:] 17 [Issue:] 3 [Year:] 2020 [Pages:] 286-294
Publisher: 
Edward Elgar Publishing, Cheltenham
Abstract: 
Blecker and Setterfield's new textbook from 2019 presents an updated discussion of heterodox models of growth and distribution. This note clarifies and elaborates on three important issues discussed in the book. First, the text presents mainly one-sectoral and one-technique models, which is a reasonable set-up to keep things simple but not always enough to discuss some controversial issues. Second, continuous substitution is important but not essential for neoclassical growth theory. Third, the popular Goodwin model presented in the text does not produce 'limit cycles.'
Subjects: 
economic growth
income distribution
heterodox macroeconomics
JEL: 
B22
B50
E11
Persistent Identifier of the first edition: 
Creative Commons License: 
cc-by Logo
Document Type: 
Article

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