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The General Theory of Transformational Growth (English, Edward J. Nell)
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Book Details
| ISBN-13 | 9780521590068 |
| ISBN-10 | 052159006X |
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About the Book
For the past century, economic analysis has been wedded to the idea of equilibrium, in spite of the evident fact that most economic relationships are in flux. The theory of transformational growth in this work replaces equilibrium with history. The role of the market is not to allocate resources, but to generate innovations, which are "selected" by competition in an evolutionary process. These innovations in turn change the way markets work and h…
ISBN: 9780521590068
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