Keywords
dynamic economics
pure cycle of production
human good
development
How to Cite
Abstract
Lonergan's general theory of dynamic economics is built on the work Hayek, Keynes and Schumpeter did on cycles and development. But his normative approach is more systematic and explains growth and development through a pure cycle with its functional distinction and relation between basic and surplus production. Lonergan notes the limitations of bureaucracies and programs, and stresses a new economic behavior consistent with the background of his discussion on the human good.
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