Contemporary Economics: A Unifying Approach

Economic planning, market construction and attempts to regulate cyclical business activity, in both the public and private sectors, are still based on outdated conclusions evolved from the Great Depression. Taking into account both macroeconomic and microeconomic reasoning, this volume formulates a new approach to economic growth and development based on dynamic disequilibrium. This approach emphasizes the impact of the introduction of new products and their subsequent phasing out upon market saturation so that resources and technology can be employed to develop new markets.