Capitalism in the twentieth century has been marked by periods
of persistent bad performance alternating with episodes of good
performance. Cornwall and Cornwall draw upon Schumpterian,
Institutional and Keynesian economics to investigate how far these
swings can be explained as integral to capitalist development. The
authors consider the macroeconomic record of the developed
capitalist economies over the past 100 years (including rates of
growth, inflation and unemployment) as well as the interaction of
economic variables with the changing structural features of the
economy in the course of industrialization and transformation.
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