Thursday, May 14, 2015

#tbt Richard M. Goodwin 1967 A Growth Cycle

One of my mentors says that the best articles are short articles, and holds this one up as the shining example. At seven pages, "A Growth Cycle" breaks the boundaries of dynamic systems theory and develops a Marxian theory of economic growth and crisis.

It's important to note that the Goodwin model is a pedagogical tool. The model is designed to provide a mathematical and graphical example of the political and economic tension of class struggle. In representing the dynamics of class struggle, Goodwin borrows a model from evolutionary biology to explain the population dynamics between predators and prey.

Download the article here