Goodwin model (economics)

The Goodwin model, sometimes called Goodwin’s class struggle model, is a model of endogenous economic fluctuations first proposed by the American economist Richard M. Goodwin in 1967. ^[1]

4 relations: Business cycle, Crisis theory, Goodwin model, Richard M. Goodwin.

Business cycle

The business cycle, also known as the economic cycle or trade cycle, is the downward and upward movement of gross domestic product (GDP) around its long-term growth trend.

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Crisis theory

Crisis theory, concerning the causes and consequences of the tendency for the rate of profit to fall in a capitalist system, is now generally associated with Marxian economics.

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Goodwin model

Goodwin model may refer to.

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Richard M. Goodwin

Richard M. Goodwin (February 24, 1913 – August 13, 1996) was an American mathematician and economist.

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Goodwin Model.

References

[1] https://en.wikipedia.org/wiki/Goodwin_model_(economics)

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