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Switchover Mode of Reproduction and the Problem of Coordination

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  • Mayevsky, V. I.

Abstract

The proposed version of macroeconomic theory of capital reproduction is related to thethesis that the dynamics of the economy are caused by the change in generations of capital and there is a problem of coordination between these generations. This paper discusses the so-called “switchover mode of reproduction†. As shown by the mathematical model, a coordinated growth is possible when the social and economic interests are agreed between the labor and the capital, as well as under a monetary policy that stimulates such growth. An uncoordinated growth poses a threat of economic crisis.

Suggested Citation

  • Mayevsky, V. I., 2015. "Switchover Mode of Reproduction and the Problem of Coordination," R-Economy, Ural Federal University, Graduate School of Economics and Management, vol. 1(1), pages 3-10.
    • Handle: RePEc:aiy:journl:v:1:y:2015:i:1:p:3-10
    DOI: 10.15826/recon.2015.1.001
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    References listed on IDEAS

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    1. Ricardo J. Caballero, 2010. "Macroeconomics after the Crisis: Time to Deal with the Pretense-of-Knowledge Syndrome," Journal of Economic Perspectives, American Economic Association, vol. 24(4), pages 85-102, Fall.
    2. Tony Lawson, 2009. "The current economic crisis: its nature and the course of academic economics," Cambridge Journal of Economics, Oxford University Press, vol. 33(4), pages 759-777, July.
    3. William Baumol, 2004. "Red-Queen games: arms races, rule of law and market economies," Journal of Evolutionary Economics, Springer, vol. 14(2), pages 237-247, June.
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