Richard M. Goodwin
Richard M. Goodwin (February 24, 1913 – August 13, 1996) was an American mathematician and economist.
Background
Goodwin was born in
Goodwin described himself as "a lifelong but wayward Marxist",[5] joining the Communist Party of Great Britain while a Rhodes Scholar at Oxford in the 1930s and then its American counterpart when he got back to the United States. However, Goodwin left after the announcement of the Molotov–Ribbentrop Pact.[6]
Work
Goodwin worked on the interaction between long run growth and business cycles. His article on matrix multiplier was one of the earliest uses of the Perron–Frobenius theorem in economics, although his reasoning had an error that was diagnosed by Frank H. Hahn.[citation needed] He returned to the Perron–Frobenius theorem with his book The Dynamics of A Capitalist Economy.
Goodwin's interest in applying the theory of
Goodwin adopted the
Major articles
- "Multiplier Effects of a Balanced Budget, Notes", 1946, Econometrica.
- "Innovations and the Irregularity of Economics Cycles", 1946, Review of Economics and Statistics.
- "Dynamic Coupling with Especial Reference to Markets Having Production Lags", 1947, Econometrica.
- "The Business Cycle as a Self-Sustaining Oscillation", 1949, Econometrica.
- "The Multiplier as a Matrix", 1949, Economic Journal.
- "A Nonlinear Theory of the Cycle", 1950, Review of Economic Studies.
- "Does the Matrix Multiplier Oscillate?", 1950, Economic Journal.
- "The Nonlinear Accelerator and the Persistence of Business Cycles", 1951, Econometrica.
- "The Optimal Growth Path for an Underdeveloped Economy", 1961, Economic Journal.
- "A Growth Cycle", 1967, in Feinstein, editor, Socialism, Capitalism and Economic Growth.
- "A Growth Cycle", 1972, in E.K. Hunt and J.G. Schwatz, editors, A Critique of Economic Theory.
- "A Note on Wage, Profits and Fluctuating Growth Rate", 1983, Cambridge Journal of Economics.
- "Disaggregating Models of Fluctuating Growth", 1984, in Goodwin et al., editors, Non-linear Models of Fluctuating Growth.
- "Swinging Along the Turnpike with von Neumann and Sraffa", 1986, Cambridge Journal of Economics.
- "The Dynamics of a Capitalist Economy: A multi-sectoral approach," with L.F. Punzo, 1987.
- "The Multiplier-Accelerator Discretely Revisited", 1988, in Ricci and Vellupilai, editors, Growth cycles and multisectoral economics, the Goodwin tradition.
- "Swinging Along the Autostrada: Cyclical fluctuations along the von Neumann Ray", 1989, in Dore et al., John von Neumann and Modern Economics.
- Essays in Nonlinear Economic Dynamics, 1989.
- Chaotic Economic Dynamics, 1990.
- "Schumpeter, Keynes and the Theory of Economic Evolution", 1991, Journal of Evolutionary Economics.
- "Nonlinear Dynamics and Economic Evolution", 1991, in Niels Thygesen et al., editors, Business Cycles.
For more details on Goodwin's professional contributions see:
- Nonlinear and Mutisectoral Macrodynamics: Essays in Honour of Richard Goodwin. (ed. K. Velupillai), Macmillan, London, 1989.
- "The Vintage Economist", The Journal of Economic Behaviour and Organisation, Vol. 37, No. 1, September 1998, pp. 1–31.
- "Richard Goodwin: 1913-1996", The Economic Journal, Vol. 108, September 1998, pp. 1436–1449.
References
Notes
- ^ a b K. Vela Velupillai (August 9, 1996). "Obituary: Professor Richard Goodwin". The Independent. Retrieved May 11, 2013.
- ^ Di Matteo, Filippi & Sordi 2006.
- ^ Calladine 2015.
- ^ Harcourt 1985, p. 410.
- ^ Desai & Ormerod 1998, p. 1431.
- ^ Harcourt 1985, p. 412.
- ISBN 978-1-137-41232-4.
- ^ Screpanti & Zamagni 2005, p. 474.
Bibliography
- Calladine, Chris (November 2015). "Richard Goodwin at Peterhouse". Cambridge Journal of Economics. 39 (6): 1497–1505. .
- Desai, Meghnad; Ormerod, Paul (1998). "Richard Goodwin: A Short Appreciation". JSTOR 2566188.
- Di Matteo, Massimo; Filippi, Francesco; Sordi, Serena (2006). "The confessions of an unrepentant model builder: Rummaging in Goodwin's Archive". Structural Change and Economic Dynamics. 17 (4): 400–414. .
- JSTOR 4537899.
- ISBN 978-0-199-27913-5.