Harrod's cumulative growth circle

Giulio Guarini ()

Economics Bulletin, 2011, vol. 31, issue 4, 3041-3051

Abstract: In this paper I aim to show through an analysis from a history of economic thought perspective that Harrod's famous model, An Essay in Dynamic Theory (1939), can be considered a fundamental example of cumulative growth circle. Having described the original model, I then go on to examine the meaning of dynamic analysis and instability in Harrod's approach, analyzing respectively the debates between Asimakopulos and Kregel and between Harrod and Keynes. Finally, I describe the main properties of Harrod cumulative growth circle by comparing Harrod's model to Domar's (1946). I argue that Harrod's growth approach is very different from the mainstream version.

Keywords: Harrod; instability; dynamic analysis. (search for similar items in EconPapers)
JEL-codes: B0 O4 (search for similar items in EconPapers)
Date: 2011-10-24
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
http://www.accessecon.com/Pubs/EB/2011/Volume31/EB-11-V31-I4-P276.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:ebl:ecbull:eb-11-00568

Access Statistics for this article

More articles in Economics Bulletin from AccessEcon
Bibliographic data for series maintained by John P. Conley ().