Growth and Cycles as a Struggle: Lotka–Volterra, Goodwin and Phillips

Giuseppe Orlando and Mario Sportelli ()
Additional contact information
Mario Sportelli: University of Bari, Department Mathematics

Chapter Chapter 14 in Nonlinearities in Economics, 2021, pp 191-208 from Springer

Abstract: Abstract In this chapter, we describe growth and cycles in economics as a struggle between capitalists and workers. We first present the Phillips curve (which statistically relates unemployment with the rate of change of nominal wages) and then the Goodwin model. The latter reinterprets, in economical terms, the dynamics of biological prey–predator struggle as described by the Lotka–Volterra model. The interaction between the two species reminded Goodwin about the Marxian conflict of class. Goodwin’s model explains cycles in those terms and will be tested in Chap. 19 . The Kolmogorov generalization of the prey–predator model and further extensions of the Goodwin model conclude.

Keywords: Growth; Cycles; Lotka–Volterra; Goodwin; Phillips (search for similar items in EconPapers)
Date: 2021
References: View references in EconPapers View complete reference list from CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

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:spr:dymchp:978-3-030-70982-2_14

Ordering information: This item can be ordered from
http://www.springer.com/9783030709822

DOI: 10.1007/978-3-030-70982-2_14

Access Statistics for this chapter

More chapters in Dynamic Modeling and Econometrics in Economics and Finance from Springer
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().