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ANNOUNCING A NEW GROWTH TEXT
(This announcement can be forwarded to other economomics lists or
individuals.)
Growth and Distribution, by Duncan K. Foley and Thomas R. Michl (Harvard
University Press, 1999, www.hup.harvard.edu) is a new growth text aimed
at advanced undergraduate students, graduate students, and
macroeconomists specializing in growth, development, and political
economy. The text presents a Classical (Marxian-Ricardian) model, the
Solow-Swan model, and a demand-constrained model in parallel, giving
students some appreciation of the underlying differences in these
approaches. It features a balance between theoretical and empirical
material, with particular emphasis on the trade-offs between the wage
rate and profit rate and between consumption and growth. While most of
the theoretical discussion summarizes developments in the existing
literature, the book also offers some new material on the Classical
interpretation of the aggregate production function, the role of land
and resources in a model of capital accumulation, the effect of social
security in an overlapping generations model, and other topics.
Duncan K. Foley
Department of Economics
Graduate Faculty
New School University
65 Fifth Avenue
New York, NY 10003
(212)-229-5906
messages: (212)-229-5717
fax: (212)-229-5724
e-mail: foleyd@cepa.newschool.edu
alternate: foleyd@newschool.edu
webpage: http://cepa.newschool.edu/~foleyd
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