'Reflection on the "history of opinion", and its application to our
contemporary world and controversies over technology and our
environmental difficulties, is the distinguishing feature of the
thoughtful economist. If the reader of this book is moved to
reflect on the work of Schumpeter and Kalecki, the author of this
book will have succeeded. Even more important than this, if the
reader of this book comes to a changed and deeper understanding of
how technology changes in our faltering capitalist economies, and
of how the environment is affected by production and may be
improved with better ways of satisfying our personal and productive
needs, then the author will have done an even greater service to
his profession and humanity.'- From the foreword by Jan Toporowski,
School of Oriental and African Studies, University of London,
UK'Jerry Courvisanos provides us with a timely analysis of the
forces behind the crises of capitalism and the tendency towards
ecologically unsustainable growth. He draws on the work of two of
most creative, if not most recognized, economists of the 20th
Century, Michal Kalecki and Joseph Schumpeter. In place of
mainstream analysis with its emphasis on marginal conditions for
optimisation around well-defined equilibrium, we have a world of
innovation, structural change, creative destruction, business
cycles, financial crises, changing income distribution and many
other inconvenient developments that plague modern economies.'-
From the foreword by Harry Bloch, Curtin University,
AustraliaCycles, crises and innovation are the major economic
forces that shape capitalist economies. Using a critical realist
political economy approach, the analysis in this fine work is based
on the works of Micha Kalecki and Joseph Schumpeter - both of whom
identify these three dynamic forces as plotting the path of
economic development. Jerry Courvisanos' thought-provoking book
examines how the rise of capital through investment enshrines
innovation in profit and power which in turn determines the course
of cycles and crises. The author concludes by arguing for strategic
intervention by transformative eco-innovation as a public policy
path to ecologically sustainable development.This interdisciplinary
book will appeal to economists, innovation and
entrepreneurship-based scholars, postgraduate students studying the
political economy of both innovation and entrepreneurship, regional
development planners and economic development policymakers. Anyone
with a general interest in economics, politics and innovation or
looking for a path out of the economic and ecological morass of
current capitalism, will also find much to interest them in this
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