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Fusing Indissolubly the Cycle and the Trend: Richard Goodwin’s Profound Insight

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  • Geoff Harcourt

    (School of Economics, University of New South Wales)

Abstract

A major concern for Richard Goodwin all of his professional life was to understand the laws of motion of the capitalist mode of production. This led very early on to his profound insight that the trend and cycle are indissolubly fused and ultimately to his most important theoretical construct, the growth cycle. This article sets out the historical development of his idea and discusses the influences on him as it was developed and the contexts in which his idea was set.
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Suggested Citation

  • Geoff Harcourt, 2012. "Fusing Indissolubly the Cycle and the Trend: Richard Goodwin’s Profound Insight," Discussion Papers 2012-30, School of Economics, The University of New South Wales.
    • Handle: RePEc:swe:wpaper:2012-30
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    File URL: http://research.economics.unsw.edu.au/RePEc/papers/2012-30.pdf
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    References listed on IDEAS

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    1. Joan Robinson, 1962. "A Model of Accumulation," Palgrave Macmillan Books, in: Essays in the Theory of Economic Growth, chapter 0, pages 22-87, Palgrave Macmillan.
    2. G. C. Harcourt, 2008. "The Structure of Post-Keynesian Economics," Palgrave Macmillan Books, in: Mathew Forstater & L. Randall Wray (ed.), Keynes for the Twenty-First Century, chapter 0, pages 185-197, Palgrave Macmillan.
    3. J. A. Kregel, 1980. "Economic Dynamics and the Theory of Steady Growth: An Historical Essay on Harrod's ‘Knife-edge'," History of Political Economy, Duke University Press, vol. 12(1), pages 97-123, Spring.
    4. Richard Kahn, 1989. "The Economics of the Short Period," Palgrave Macmillan Books, Palgrave Macmillan, number 978-1-349-09817-0.
    5. R. M. Goodwin, 1983. "Essays in Linear Economic Structures," Palgrave Macmillan Books, Palgrave Macmillan, number 978-1-349-05507-4.
    6. Peter Kriesler & J W Nevile, 2008. "Escaping from a Blind Alley: Disequilibrium in the Dynamic Analysis of Harrod and Kalecki," Discussion Papers 2008-12, School of Economics, The University of New South Wales.
    7. G. C. Harcourt, 1993. "A Twentieth-Century Eclectic: Richard Goodwin," Palgrave Macmillan Books, in: Post-Keynesian Essays in Biography, chapter 8, pages 105-115, Palgrave Macmillan.
    8. R. M. Goodwin, 1983. "Does the Matrix Multiplier Oscillate?," Palgrave Macmillan Books, in: Essays in Linear Economic Structures, chapter 2, pages 22-29, Palgrave Macmillan.
    9. G. C. Harcourt, 1995. "Capitalism, Socialism and Post-Keynesianism," Books, Edward Elgar Publishing, number 206.
    10. Richard M. Goodwin, 1980. "World Trade Multipliers," Journal of Post Keynesian Economics, Taylor & Francis Journals, vol. 2(3), pages 319-344, April.
    11. R. M. Goodwin, 1983. "The Multiplier as Matrix," Palgrave Macmillan Books, in: Essays in Linear Economic Structures, chapter 1, pages 1-21, Palgrave Macmillan.
    12. R. M. Goodwin, 1982. "Essays in Economic Dynamics," Palgrave Macmillan Books, Palgrave Macmillan, number 978-1-349-05504-3.
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    Cited by:

    1. Araujo, Ricardo Azevedo & Dávila-Fernández, Marwil J. & Moreira, Helmar Nunes, 2019. "Some new insights on the empirics of Goodwin's growth-cycle model," Structural Change and Economic Dynamics, Elsevier, vol. 51(C), pages 42-54.
    2. Enrico Bellino & Christian Bidard & Saverio M. Fratini & G.C. Harcourt & Arrigo Opocher & Ian Steedman & Naoki Yoshihara & Heinz D. Kurz, 2017. "Symposium on Arrigo Opocher and Ian Steedman (," Metroeconomica, Wiley Blackwell, vol. 68(4), pages 586-624, November.

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    • E00 - Macroeconomics and Monetary Economics - - General - - - General

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