Resources, Production and Structural Dynamics

Economists since the First Industrial Revolution have been interested in the links between economic growth and resources, often pointing to resource scarcities as a hindrance to growth. Offering a counter perspective, this volume highlights the positive role that scarcities can play in inducing technical progress and economic growth. It outlines a structural framework for the political economy of scarcity and rents, and offers a novel way of organizing the evidence concerning the role of resources in industrial growth. This book proposes a major shift in the treatment of scarcity issues by focusing on bottlenecks and opportunities arising within the production system, and will appeal to economists and policy makers interested in the role of resources as triggers of structural change.

Table of Contents:
Preface; Acknowledgments; 1. Resources, producibility and economic dynamics: a framework Mauro L. Baranzini, Claudia Rotondi and Roberto Scazzieri; Part I. Resources and Distribution in a Structural Perspective: 2. On the origin of the theory of rent in economics Luigi L. Pasinetti; 3. The political economy of corn markets D'Maris Dalton Coffman; 4. The classical theory of rent Heinz D. Kurz and Neri Salvadori; 5. Profit, productive rent and parasitic rent Piercarlo Nicola; Part II. Structural Dynamics: Resources and Multi-Sectoral Linkages: 6. Limits, resources and distributional trade-offs: structural constraints and opportunities Albert E. Steenge; 7. Producible resources and producibility prices in a dynamic Leontief-Type model Carlo D'Adda; 8. The transformative potential of input-output economics for addressing critical resource challenges of the twenty-first century Faye Duchin; 9. Capital mobility and natural resources dynamics: a classical-Keynesian perspective Heinrich Bortis; 10. The chimera of a complete analysis of economic dynamics Kumaraswamy Vela Velupillai; 11. Ricardian and Schumpeterian rents: fundamental ingredients for structural economic dynamics Michael A. Landesmann; 12. Towards a structural political economy of resources Ivano Cardinale; Part III. Resources, Institutions and Social Structures: 13. Monetary analysis, financial innovation and institutions before the Industrial Revolution: a paradigm case Lilia Costabile; 14. Institutions, resources and economic growth in transition processes: the case of Russia Constanze Dobler and Harald Hagemann; 15. Institutions, resources and the common weal Alessandro Roncaglia; 16. Development, capabilities and institutions Stefano Zamagni; 17. Conquering scarcity: institutions, learning and creativity in the history of economic ideas Pier Luigi Porta; Part IV. Resources, Industrial Change and the Structure of the World Economy: 18. Resources, industrial transformation and the structure of the world economy Moshe Syrquin; 19. Transformation and resources in the 'new' geo-economy Marco Fortis; 20. Developmental state and structural economic dynamics: necessity of industrial structure Sunanda Sen; 21. Resources, institutional forms and structural transformation in the BRICKs: the 'hybrid model of late capitalism' Andrea Goldstein and Keun Lee; 22. On manufacturing development under resources constraints Antonio Andreoni; Part V. Towards a Political Economy of Resources and Structural Change: 23. Resources, scarcities and rents: technological interdependence and the dynamics of socio-economic structures Roberto Scazzieri, Mauro L. Baranzini and Claudia Rotondi; Name index; Subject index.

About the Author :
Mauro L. Baranzini is Professor of Economics at the University of Lugano, Switzerland. He is also a Fellow of the National Lincei Academy, Rome which in 2009 awarded him, together with Andreu Mas-Colell, a prize for his contribution to economic theory. He contributed widely to the Cambridge theory of income, wealth distribution and accumulation. Claudia Rotondi is Professor of Development Economics at the Catholic University of Milan. Her research interests focus mainly on the economics of institutions, taking into account the history of economic thought, and analysing the role of liberalism in economic policy, social market economy, the contribution of institutional economists, the circulation of economic ideas, and the origin of economic schools. Roberto Scazzieri is Professor of Economic Analysis at the University of Bologna. He is also Senior Member of Gonville and Caius College and Life Member of Clare Hall, Cambridge. His research interests cover the theory of production, structural economic dynamics, the economic theory of institutions and organisation, the epistemology of economics, and the history of economic analysis. He is a Fellow of the National Lincei Academy, Rome, which in 2004 awarded him the Economics Linceo Prize for his contribution to structural economic analysis.

Review :
'Post-crisis economic thought is mainly focussed on macro-economics or financial markets, usually ignoring the fact that political economy is, and always has been, their critical setting. Exceptionally, this major work by leading scholars treats the long-standing topics of political economy - resources, scarcities and rents - in a coherent modern framework important for both theory and future policy.' Michael Dempster, University of Cambridge 'This marvellous collection brings together some of the finest scholars interested in the questions arising from the subtle and complex interplay between natural resources, technological change, and political economy. This is a sophisticated and wide-ranging volume, on a timely and important topic.' Joel Mokyr, Northwestern University, Illinois 'This book is a great example of how economic theories and applied economics can really support political decisions. The analysis based on structural dynamics helps the reader in understanding even hidden links between different economic systems and markets, especially in the long run. A new tool of political economy for scholars and decision makers.' Romano Prodi, University of Bologna and former President of the European Commission