Abstract
No problem in economics is more difficult than the one posed by the almost universal evidence that while capitalist economies grow, they do not expand steadily. On the contrary they sometimes advance rapidly but at other times they stagnate or decline. How are we to handle this delicate and unsolved problem of the mutual conditioning of these two types of behaviour?
This paper was presented to the University of Leeds Economics Seminar at Grantley Hall on 15 March 1953, and in French at the Institut de Science Economique Appliquée on 14 April and was printed in French in Economic Appliquée.
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© 1982 R. M. Goodwin
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Goodwin, R.M. (1982). The Problem of Trend and Cycle. In: Essays in Economic Dynamics. Palgrave Macmillan, London. https://doi.org/10.1007/978-1-349-05504-3_9
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DOI: https://doi.org/10.1007/978-1-349-05504-3_9
Publisher Name: Palgrave Macmillan, London
Print ISBN: 978-1-349-05506-7
Online ISBN: 978-1-349-05504-3
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