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

Mark Setterfield

No 901, Working Papers from Trinity College, Department of Economics

Abstract: This paper explores the possibilities for and likely impediments to 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. It is argued, however, that the resultant opportunities for greater engagement between growth theorists are tempered by a number of obstacles, that are methodological, rhetorical and sociological in nature.

Keywords: Neoclassical growth theory; heterodox growth theory; endogenous growth (search for similar items in EconPapers)
JEL-codes: E12 E13 O40 (search for similar items in EconPapers)
Pages: 33 pages
Date: 2009-12
New Economics Papers: this item is included in nep-fdg and nep-pke
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Citations: View citations in EconPapers (6)

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http://www3.trincoll.edu/repec/WorkingPapers2009/wp09-01.pdf First version, 2009 (application/pdf)

Related works:
Journal Article: Neoclassical Growth Theory and Heterodox Growth Theory: Opportunities For (and Obstacles To) Greater Engagement (2014)
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Persistent link: https://EconPapers.repec.org/RePEc:tri:wpaper:0901

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