By Kumaraswamy Velupillai
A selection of essays fascinated with nonlinear and multisectoral macrodynamics written in honour of Richard Goodwin consisting of dialogue of Goodwin's contribution and ideas compared to different theories.
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A suite of essays concerned about nonlinear and multisectoral macrodynamics written in honour of Richard Goodwin along with dialogue of Goodwin's contribution and ideas compared to different theories.
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Extra resources for Nonlinear and Multisectoral Macrodynamics: Essays in Honour of Richard Goodwin
One can substitute from (2) for u', but it is immediately clear that the nice conservative property of the Goodwin model is gone. I do not go on to analyse the model consisting of (1 ') and (2) because it has nothing in particular to recommend it. 5. It appears that the absorption of effective demand considerations into the Goodwin model is difficult. If it can be done at all it will generally entail drastic changes in the characteristic Goodwinesque result. These considerations suggest a fairly radical conclusion.
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Even in the teaching of Keynesian economics Goodwin trekked off the beaten track. In fact Harcourt does point out that: 'Goodwin used a four quadrant, rather than the Hicks-Hansen two quadrant, diagram which he never published though one of his students - he forgets who did' (Harcourt, 1985, p. 410). As a matter of fact Goodwin's four-quadrant diagram has entered the literature by a roundabout method - and hence very productively. One ( Nonlinear) Life and (Economic) Times 25 of Erik Lindahl's fundaJ;Ilental 'Keynesian' papers used this very fourquadrant system in Lindahl, 1954.
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