From the Knife Edge to the Nut Shell: A New Analysis of Harrod's Dynamic
Álvaro Martín Moreno Rivas
Universidad Nacional de Colombia
Revista de Economía Institucional, Vol. 7, No. 13, Second Semester 2005
Harrod's research program was the first to integrate the central ideas of "magnum dynamics" into a mechanical framework of vector forces to endogenously explain cycles and growth. Mathematical economists ignored these points and Harrod's original work was presented in textbooks as the Harrod-Domar growth model. The aim of this paper is to present Harrod's dynamic and show that his real aim was to build a non linear cyclic growth model.
Number of Pages in PDF File: 32
Keywords: Harrod, dynamic theory, non linear cyclic growth
JEL Classification: O49Accepted Paper Series
Date posted: August 12, 2006
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