Production and Economic Dynamics

This volume outlines a novel approach to the analysis of structural economic dynamics.

Michael A. Landesmann (Edited by), Roberto Scazzieri (Edited by)

9780521114257, Cambridge University Press

Paperback, published 25 June 2009

376 pages, 6 tables
22.9 x 15.2 x 2.1 cm, 0.55 kg

'This book is an interesting review and, at the same time, an attempt to give order to the subject of structural economic dynamics, a field of economic theory that is investigated in many different ways with a variety of alternative aims … the book shows that the work required to construct a unified model of structural change is still in progress, but of course the editors should not be blamed for this. On the contrary they are to be praised for having reduced the distances between important lines of research that at first sight may appear remote.' The Economic Journal

This volume is inspired by developments in two strands of economic theorising. Firstly, research on structural economic dynamics based on three sources: Hicks' work on traverse analysis, Pasinetti on disproportional growth and Goodwin on dynamic decomposition and economic fluctuations. The second strand goes back to Georgescu-Roegen's interest in an organisational theory of production based upon the interrelationship between tasks, fund factors and material transformations. The approach taken involves a comprehensive view of sub-units of the whole economic system (such as processes, industries, vertically integrated sectors, eigensectors) representing dynamics of structural adaptation and compositional change. Furthermore, a detailed representation of micro-organisational features leads to the analysis of networks and networking processes within and amongst such sub-units.

Introduction: production and economic dynamics
Part I. Decomposition of Economies and Structural Dynamics: 1. Traverse analysis in a neo-Austrian framework
2. Vertical integration, the temporal structure of production processes, and transition between techniques
3. Production and efficiency with global technologies
4. Efficient traverses and bottlenecks: a structural approach
5. Structural change and macroeconomic stability in disaggregated models
Part II. Production Organisation and Economic Dynamics: 6. The production process: description and analysis
7. Agricultural forms of production organisation
8. Forms of production organisation: the case of manufacturing processes
9. Coordination of production processes, subsystem dynamics and structural change.

Subject Areas: Economic theory & philosophy [KCA]