The Making of Harrod's Dynamics [Hardcover]

This book inquires into the origin and early development of Roy Harrod's notion of economic dynamics. It examines how Harrod gathered the analytical, methodological and epistemic components of his theory, and how these are logically connected. It shows that the organizing concept is the instability principle, a premise rather than a result of Harrod's trade cycle theory. The relationship of Harrod's dynamics with the 'orthodox theory' and with the alternative approaches to dynamics is also examined.Foreword and Acknowledgements Preface Introduction: the Puzzling Case of Harrod's Dynamics Imperfect Competition and the Possibility of Trade Cycle Theorising Prices, Saving and Investment in an Advancing Community: Activities, 1932-34 Towards the Trade Cycle Statics and Dynamics in the Trade Cycle Interlude: Harrod on Method From a Dynamics of Causes to a Dynamics of Effects: the 'Essay in Dynamic Theory' Beyond the Traditional Economics The Story of a Failure Footnotes References Index

'Besomi's Harrodian saga is a useful tonic to the textbook veiw of the history of economic thought.' - Steve Keen, History of Economics Review

DANIELE BESOMI is an independent research scholar in the history of economic thought. He was awarded the Dorfman Prize in 1997, awarded annually by the American History of Economics Society for the best dissertation in the history of economics for his PhD at Loughborough University. The current book develops the themes of this doctoral research. Dr Besomi previously studied at the University of Cambridge and the University of Pavia. He has published a number of journal articles and book chapters in this field.