Abstract
The purpose of this essay is to suggest a mix of Neo-Schumpeterian and Post-Keynesian elements that might turn possible an integration of micro and macro dynamical features, so as to support a non-orthodox reconstruction of the Theory of Economic Development. Mutually compatible theoretical issues are acknowledged and briefly discussed, such as uncertainty (“hard” or “fundamental”) and structural instability (without equilibrium), on the structural side, as well as behavioural ones such as bounded or procedural rationality. The evolutionary Neo-Schumpeterian approach for the dynamics of firms and markets is shortly reviewed, followed by some wellknown dynamic properties stemming from the principle of effective demand, of Kaleckian and Keynesian origin – e.g. multiplier and accelerator effects, among others. It is argued that their integration may provide the basis for a dynamic theory in which micro and macro analytical levels blend naturally. Such integration will certainly require a disaggregate, multisectoral dynamic analysis and instruments. In addition, simulation models should be employed, given the absence of equilibrium assumptions together with the presence of stochastic variables at the micro level, related to evolutionary processes, especially those of innovative and competitive content.References
Aghion, P. & Howitt, P. “A Model of Growth through Creative Destruction”. Econometrica, v. 60, 1992.
Andersen, E., Evolutionary Economics: Post-Schumpeterian Contributions. London: Pinter Publisher, 1996.
Arthur, W. B., Increasing Returns and Path Dependence in the Economy. Ann Arbor: The University of Michigan Press, 1994.
Chiaromonte, F.; Dosi, G. “The Micro Foundations of Competitiveness and their Macroeconomic Implications”, 1991, in: Foray, D., Freeman, C. (eds.); Technology and the Wealth of Nations: the dynamics of constructed advantages. London: Pinter, 1993.
Davidson, P., “Rational Expectations: a Fallacious Foundation to Study Crucial Decision-Making Processes”. Journal of Post Keynesian Economics, v. 5, 1982/3.
Dosi, G., “Technological Paradigms and Technological Trajectories: a suggested interpretation of determinants and direction of technical change”. Research Policy, v.11, 1982.
Dosi, G., Technical Change and Industrial Transformation. Londres: Macmillan, 1994.
Dosi, G., Egidi, M., “Substantive and Procedural Uncertainty: an Exploration of Economic Behaviours in Changing Environments”. Journal of Evolutionary Economics, abr., 1991.
Dosi, G., Fabiani, S. “Convergence and Divergence in the Long-Term Growth of Open Economies”. in: Silverberg , G. & Soete, L. (eds.), op. cit. Harrod, R., “An Essay in Dynamic Theory”, Economic Journal, v. 49, 1939.
Heiner, R.,“The Origin of Predictable Behavior”. American Economic Review, v. 73, 1983.
Kalecki, M. Theory of Economic Dynamics. Londres: Allen & Unwin, 1954.
Keynes, J. M., The General Theory of Employment, Interest and Money. Londres: Macmillan, 1936.
Lisboa, M. B., “A Miséria da Crítica Heterodoxa” in: Revista de Economia Contemporânea, no 2, jul./dez., 1997.
Lucas, R., Studies in Business Cycle Theory. Cambridge, Mass.: MIT Press, 1981.
Minsky, H., John Maynard Keynes. N. York: Columbia University Press, 1975.
Nelson, R.; Winter, S., An Evolutionary Theory of Economic Change. Cambridge, Mass.: Harvard University Press, 1982.
Possas, M., Dinâmica e Ciclo Econômico em Oligopólio. Campinas: DEPE/Unicamp, tese de doutorado, 1983.
Possas, M., “Um modelo dinâmico multissetorial”. Pesquisa e Planejamento Econômico, v. 14, 1984.
Possas, M., A Dinâmica da Economia Capitalista: uma abordagem teórica. S. Paulo: Brasiliense, 1987.
Possas, M., “Racionalidade e Regularidades: rumo a uma integração micro-macrodinâmica”. Economia e Sociedade, v. 2, ago., 1993.
Possas, M., “Antecedentes e Perspectivas Teóricas da Economia do Desenvolvimento numa Abordagem Evolucionária”. Revista Nexos Econômicos, CME/UFBa, v. 1 , jul., 1999a.
Possas, M., “Demanda Efetiva, Investimento e Dinâmica: a atualidade de Kalecki para a teoria macroeconômica”. Revista de Economia Contemporânea, v. 3 , jul./dez., 1999b.
Possas, M., M., Koblitz, A., et al. , “Um Modelo Evolucionário Setorial”. Revista Brasileira de Economia, v. 55 , jul./set., 2001.
Schumpeter, J. (1911). The Theory of Economic Development. Trad. inglesa, London: Oxford University Press, 1934.
Silverberg, G. , “Technical Progress, Capital Accumulation and Effective Demand: a self-organization model”. in: Batten, D., Casti, J., Johansson, B., Economic Evolution and Structural Adjustment. Berlim: Springer-Verlag, 1987.
Silverberg, G., Dosi, G.; Orsenigo, L., “Innovation, Diversity and Diffusion: a self-organization model”. The Economic Journal, 98, dez., 1988.
Silverberg, G., Verspagen, B., “Learning, Innovation and Economic Growth: a Long-run Model of Industrial Dynamics”. Industrial and Corporate Change, v. 3, 1994.
Simon, H., “From Substantive to Procedural Rationality”. in: Hahn, F.; Hollis, M. (eds.). Philosophy and Economic Theory. Oxford: Oxford University Press, 1979.
Vercelli, A., Methodological Foundations of Macroeconomics: Keynes and Lucas. Cambridge University Press, 1991.
The content of the articles and reviews published in RBI are of absolute and exclusive responsibility of their authors.
Downloads
