The Foundations of Non-Equilibrium Economics

Reviews / Votes

'The theory of circular cumulative causation (CCC) is imbued with a long and distinguished intellectual legacy in the history of economic thought. Its intellectual roots can be traced back to Adam Smith, Veblen, Myrdal and Kaldor. CCC represents a rigorous alternative paradigm in the study of the dynamics of growth and technological change. Quite contrary to prevailing neoclassical theories based upon mechanistic notions of equilibrium, CCC offers a powerful critique and develops a sophisticated theory of non-equilibrium dynamics. At present, the research in this exciting new school is still in its infancy and comprises an eclectic mixture of diverse approaches and methodologies. This volume represents an important contribution to this growing literature and should become an invaluable source to academics and practitioners alike.' - Bill Lucarelli, University of Western Sydney, Australia

'Set out to bring different traditions of [circular cumulative causation] CCC theorists together and to revitalize the nonequilibrium approach to economic research and teaching, The Foundations of Non-Equilibrium Economics has at least succeeded in providing the scientific community with a comprehensive review of the state of the art of using CCC as a very powerful tool of economic analysis.' - Torsten Heinrich, Heterodox Economics Newsletter

'This edited collection of articles explores the theoretical basis and links of CCC within the traditions of institutional and post-Keynesian economics.' - Journal of Australian Political Economy

'...these ideas of circular and cumulative causation can create a platform to bring together the whole range of heterodox economic approaches, creating enough common ground on how the economy - and indeed society - actually functions, so that these various schools of thought can engage in dialgoue and joint research.' - Jonathan Michie, International Review of Applied Economics