EconPapers    
Economics at your fingertips  
 

Neoclassical Growth Theory and Heterodox Growth Theory: Opportunities For (and Obstacles To) Greater Engagement

Mark Setterfield

Eastern Economic Journal, 2014, vol. 40, issue 3, 365-386

Abstract: This article explores the possibilities for greater engagement between neoclassical and heterodox growth theorists. Simple structural models are used to identify the essential “mechanics” of the growth process in both the neoclassical and heterodox traditions, and these are shown to point to important areas of theoretical overlap and even observational equivalence. In particular, the interaction of trend and cycle — and more specifically, the influence of demand on long-run growth — is identified as an emerging “common front” in growth theory. Rhetorical and sociological obstacles to greater engagement are identified, but it is argued that these should not be allowed to thwart profitable interactions among researchers from different traditions.

Date: 2014
References: Add references at CitEc
Citations: View citations in EconPapers (4)

Downloads: (external link)
http://www.palgrave-journals.com/eej/journal/v40/n3/pdf/eej201312a.pdf Link to full text PDF (application/pdf)
http://www.palgrave-journals.com/eej/journal/v40/n3/full/eej201312a.html Link to full text HTML (text/html)
Access to full text is restricted to subscribers.

Related works:
Working Paper: Neoclassical Growth Theory and Heterodox Growth Theory: Opportunities For and Obstacles To Greater Engagement (2009) Downloads
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:pal:easeco:v:40:y:2014:i:3:p:365-386

Ordering information: This journal article can be ordered from
http://www.springer.com/economics/journal/41302

Access Statistics for this article

Eastern Economic Journal is currently edited by Allan Zebedee and Cynthia Bansak

More articles in Eastern Economic Journal from Palgrave Macmillan, Eastern Economic Association Contact information at EDIRC.
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().

 
Page updated 2024-11-22
Handle: RePEc:pal:easeco:v:40:y:2014:i:3:p:365-386