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  • Open Daily: 10am - 10pm
    Alley-side Pickup: 10am - 7pm

    3038 Hennepin Ave Minneapolis, MN
    612-822-4611

Open Daily: 10am - 10pm | Alley-side Pickup: 10am - 7pm
3038 Hennepin Ave Minneapolis, MN
612-822-4611
Disequilibrium Economics: Fluctuations in the U.S. Postwar Economy

Disequilibrium Economics: Fluctuations in the U.S. Postwar Economy

Duménil, Gérard
Levy, Dominique

Hardcover

Series: Routledge Frontiers of Political Economy

AccountingEconomics

ISBN10: 1041005288
ISBN13: 9781041005285
Publisher: Routledge
Published: Sep 28 2026
Pages: 502
Weight: 2.03
Height: 1.19 Width: 6.14 Depth: 9.21
Language: English

The ambition of this book is nothing less than the development of an alternative macroeconomic theory. There are important groundings, notably in Marxian, Keynesian, Schumpeterian, and Minskian approaches, but it does not adhere strictly to any particular train of thought.

The frontal treatment of disequilibrium is the key idiosyncratic feature. Disequilibrium is understood in the strict sense, with equilibria approached as outcomes of actual dynamic processes. The stability and instability of these dynamics are placed on equal footing. Credit mechanisms are a pivotal component of the funding of firms' investment, brewing the destabilizing potential inherent in disequilibrium dynamics. Instability would be the general rule if procedures built in institutions and regulations did not see to it. Special attention is placed on the historical establishment of these mechanisms and their contemporary institutional settings such as the Basel Accords and unconventional macro policies, emphasizing their efficiency. The satisfaction of stability conditions remains, however, conditional, and their recurrent violation is the pivotal component of our analysis of business cycles.

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