Cumulative causation and industrial development

George Argyrous, Geoffrey Bamberry

Research output: Book chapter/Published conference paperChapter

3 Citations (Scopus)

Abstract

This thought-provoking volume presents essays on the foundations of non-equilibrium economics, i.e. the principle of circular cumulative causation (CCC). This work presents empirical research on how the interplay of technology's increasing returns to scale, institutions, resources, and economic policy leads to virtuous circles of economic growth and development, but also to vicious circles of social and ecological degradation. In particular, evidence is provided for the important role of the "development state" and strategic trade policy, economies of large-scale production in manufacturing, the regional level of development and community-based resource management regimes. While demonstrating CCC's strength in generating empirical research, the book also provides insights into its philosophical foundations and intellectual history. Several essays trace the roots of this full-fledged theoretical framework back to Adam Smith, Classical Political Economy, Thorstein Veblen, Gunnar Myrdal, K. William Kapp and Nicholas Kaldor.
Original languageEnglish
Title of host publicationThe Foundations of Non-Equilibrium Economics
Subtitle of host publicationThe Principle of circular and cumulative causation
EditorsSebastian Berger
Place of PublicationLondon
PublisherRoutledge
Pages65-76
Number of pages12
Edition1 illustrated / 4
ISBN (Print)0415777801
Publication statusPublished - 2009

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