Richard M. Goodwin

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Richard Murphy Goodwin (* 1913 in Indiana ; † August 13, 1996 ) was an American mathematician and economist with Keynesian - Marxist influences and a student of Joseph Schumpeter and Wassily Leontief at Harvard University . He graduated in 1934 and was under the impact of the global economic crisis . Goodwin taught in England and Italy .

He taught at Harvard from 1942 to 1950. During the McCarthy era , he left the United States and taught at the University of Cambridge until 1979 and then at the University of Siena until 1984.

Goodwin is known for the so-called Goodwin model, which he presented in his book A Growth Cycle in 1967. The Goodwin model describes the relationship between functional income distribution and the business cycle . The model is based on the Lotka-Volterra equations , where the wage share plays the role of the predator and the employment share that of the prey.

Works

Here is a selection of his publications:

  • Multiplier Effects of a Balanced Budget, Notes . In: Econometrica . 1946.
  • Innovations and the Irregularity of Economics Cycles . In: REStat . 1946.
  • Dynamic Coupling with Especial Reference to Markets Having Production Lags . In: Econometrica . 1947.
  • The Business Cycle as a Self-Sustaining Oscillation . In: Econometrica . 1949.
  • The Multiplier as a Matrix . In: EJ . 1949.
  • A Nonlinear Theory of the Cycle . In: RES . 1950.
  • Does the Matrix Multiplier Oscillate? In: EJ . 1950.
  • The Nonlinear Accelerator and the Persistence of Business Cycles . In: Econometrica . 1951.
  • The Optimal Growth Path for an Underdeveloped Economy . In: EJ . 1961.
  • A growth cycle. In: CH Feinstein (Ed.): Socialism, Capitalism and Economic Growth. 1967
  • A growth cycle. In: EK Hunt & Jesse G. Schwartz (Eds.): A Critique of Economic Theory. 1972
  • A Note on Wage, Profits and Fluctuating Growth Rate . In: JE . Cambridge 1983.
  • Disaggregating Models of Fluctuating Growth. In: Richard M. Goodwin, Michael Krüger & Alessandro Vercelli (Eds.): Non-linear Models of Fluctuating Growth. 1984
  • Swinging Along the Turnpike with von Neumann and Sraffa . In: JE . Cambridge 1986.
  • with LF Punzo: The Dynamics of a Capitalist Economy: A multi-sectoral approach . 1987.
  • The Multiplier-Accelerator Discretely Revisited. In: Gianni Ricci & Kumaraswamy Velupillai (eds.): Growth cycles and multisectoral economics: the Goodwin tradition. 1988
  • Swinging Along the Autostrada: Cyclical fluctuations along the von Neumann Ray. In: Richard M. Goodwin, Mohammed Dore & Sukhamoy Chakravarty (eds.): John von Neumann and Modern Economics. 1989
  • Essays in Nonlinear Economic Dynamics . 1989.
  • Chaotic Economic Dynamics . 1990.
  • Schumpeter, Keynes and the Theory of Economic Evolution . In: Journal of Evol. Econ. 1991.
  • Nonlinear Dynamics and Economic Evolution. In: Niels Thygesen, Kumaraswamy Velupillai & Stefano Zambelli (eds.): Business Cycles. 1991

Web links

personal data
SURNAME Goodwin, Richard M.
ALTERNATIVE NAMES Goodwin, Richard Murphy
BRIEF DESCRIPTION American economist
DATE OF BIRTH 1913
PLACE OF BIRTH Indiana
DATE OF DEATH August 13, 1996