The Theory of Accumulation

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The book presents a unified macro-dynamic theory of growth and cycles in capitalist economies, drawing on Marxian micro-foundations and historical perspectives. Developed by Nobuo Okishio, the theory integrates concepts from Keynes and Harrod, challenging the traditional separation of long-term economic growth and business cycles in mainstream economics. It reflects a shift towards a more cohesive analysis, addressing the interconnectedness of these economic phenomena.