Fluctuations and Growth: Keynes, Schumpeter, Marx and the Structural Instability of Capitalism

@inproceedings{Vercelli1984FluctuationsAG,
  title={Fluctuations and Growth: Keynes, Schumpeter, Marx and the Structural Instability of Capitalism},
  author={Alessandro Vercelli},
  year={1984}
}
Keynes, Schumpeter and Marx contributed, perhaps more than anybody else, to the understanding of the inherent instability of a monetary economy and of the connected essential relation between cycles and growth. The analysis of economic cycles cannot be severed from the analysis of growth, because cycles and growth crucially interact in a structurally unstable economic structure, which is typical of any monetary economy and especially of developed capitalism. Each of our three authors reacted… CONTINUE READING