Amends of an old feud: Goodwin’s flair for the law of conservation

A. Bródy; I. Ábel

doi:10.1556/aoecon.60.2010.2.1

Jump to Content

Acta Oeconomica

Volume/Issue:: Volume 60: Issue 2

Amends of an old feud

Goodwin’s flair for the law of conservation

Authors:

A. Bródy

A. Bródy
Search for other papers by A. Bródy in
Current site
Google Scholar
PubMed

and

I. Ábel

I. Ábel International Monetary Fund 700 19th Street N.W. 20431 Washington, D.C. USA

Search for other papers by I. Ábel in
Current site
Google Scholar
PubMed

View More View Less

Pages:: 127–141

Online Publication Date:: 25 May 2010

Publication Date:: 01 Jun 2010

Article Category:: Journal Article

DOI:: https://doi.org/10.1556/aoecon.60.2010.2.1

Keywords:: applications of the Goodwin model; first integral; cycle; D46; E32

Restricted access

Purchase article

USD $30.00

1 year subscription (Individual Only)

USD $700.00

USD $30.00

Click here to view the full Terms and Conditions

USD $700.00

Click here to view the full Terms and Conditions

Mathematical duality in economic dynamics offers a fresh insight for applied research. The dichotomy of causes and objectives is fading away in economics just like it disappeared from physics over the past century. The struggle between apparently conflicting theories gives way to practical approaches of empirical assessment of economic motion. We present an approach based on the Goodwin model which offers a clear exposition and deeper insight by using the mathematical concept of the ‘first integral’. Goodwin’s classic model of the economic cycle stands on the dividing line between the teleological and the causal school of thought and is theoretically acceptable to both. Inputs and outputs, aims and means, causes and objectives are organically interconnected in his approach that also provides a computationally simple alternative to facilitate the numerical and graphical description of economic cycles.

Save
Cite
Email this content

Share Link

Copy this link, or click below to email it to a friend
Email this content
or copy the link directly:

https://akjournals.com/abstract/journals/032/60/2/article-p127.xml
The link was not copied. Your current browser may not support copying via this button.

Link copied successfully

Collapse
Expand

Acta Oeconomica Periodical of the Hungarian Academy of Sciences

Print ISSN:: 0001-6373

Online ISSN:: 1588-2659

Associate Editors

Péter Benczúr, Joint Joint Research Center, European Commission
Dóra Benedek, International Monetary Fund
Balázs Égert, OECD
Dániel Prinz, World Bank
Rok Spruk, University of Ljubljana, School of Economics and Business, Slovenia

Editorial Board

Anders Åslund, Georgetown University and Advisory Council of CASE, USA
István Benczes, Corvinus University of Budapest, Hungary
Agnieszka Chłoń-Domińczak, SGH Warsaw School of Economics, Poland
Fabrizio Coricelli, University of Siena, Italy
László Csaba, Corvinus University of Budapest, Hungary and Central European University, Austria
Beáta Farkas, Faculty of Economics and Business Administration, University of Szeged, Hungary
Péter Halmai, Budapest University of Technology and Economics, and National University of Public Service, Hungary
Martin Kahanec, Central European University, Austria
Michael Landesmann, The Vienna Institute for International Economic Studies (WIIW), Austria
Péter Mihályi, Corvinus University of Budapest, Hungary
Debora Revoltella, European Investment Bank

Corvinus University of Budapest
Department of Economics
Fővám tér 8 Budapest, H-1093, Hungary
E-mail: judit.kalman@uni-corvinus.hu

Indexing and Abstracting Services:

CABELLS Journalytics
EconLit
Elsevier GEO Abstracts
GEOBASE
Index Copernicus
International Bibliographies IBZ and IBR
JEL
Referativnyi Zhurnal
RePEc
SCOPUS
Social Science Citation Index

2023
Web of Science
Journal Impact Factor	0.7
Rank by Impact Factor	Q3 (Economics)
Journal Citation Indicator	0.23
Scopus
CiteScore	1.4
CiteScore rank	Q3 (Economics and Econometrics)
SNIP	0.385
Scimago
SJR index	0.218
SJR Q rank	Q4

Acta Oeconomica
Publication Model	Hybrid
Submission Fee	none
Article Processing Charge	900 EUR/article
Printed Color Illustrations	40 EUR (or 10 000 HUF) + VAT / piece
Regional discounts on country of the funding agency	World Bank Lower-middle-income economies: 50% World Bank Low-income economies: 100%
Further Discounts	Editorial Board / Advisory Board members: 50% Corresponding authors, affiliated to an EISZ member institution subscribing to the journal package of Akadémiai Kiadó: 100%
Subscription fee 2025	Online subsscription: 700 EUR / 768 USD Print + online subscription: 820 EUR / 900 USD
Subscription Information	Online subscribers are entitled access to all back issues published by Akadémiai Kiadó for each title for the duration of the subscription, as well as Online First content for the subscribed content.
Purchase per Title	Individual articles are sold on the displayed price.

Acta Oeconomica
Language	English
Size	B5
Year of Foundation	1966
Volumes per Year	1
Issues per Year	4
Founder	Magyar Tudományos Akadémia
Founder's Address	H-1051 Budapest, Hungary, Széchenyi István tér 9.
Publisher	Akadémiai Kiadó
Publisher's Address	H-1117 Budapest, Hungary 1516 Budapest, PO Box 245.
Responsible Publisher	Chief Executive Officer, Akadémiai Kiadó
ISSN	0001-6373 (Print)
ISSN	1588-2659 (Online)