Scattershot by Richard Goodwin5/11/2023 ![]() I knocked, the door was opened by a distinguished looking, elegantly dressed, gentleman. KeywordsĪs Goodwin told me during a personal conversation in September 1977 at my home in Svanshall, Sweden: ‘I was walking down the corridor of the Physics Department when I saw the name “Ph. In this chapter, these elements are made to tell the story of Goodwin’s wonderful contributions to economics. His important discovery of a one-sided oscillator which does not depend on the cubic characteristic was made in the context of reviewing Hicks’s theory of the trade cycle. His non-linear mathematics owed a great deal to Philip Le Corbeiller’s personal teaching and the development of classical theory of non-linear differential equations. He worked on synthesizing the imaginative insights of Schumpeter on innovations, Keynes on the multiplier, Harrod on the accelerator, Leontief on an applicable model of Walrasian interdependence, and Sraffa on capital theory. ![]() ![]() His theoretical and policy frameworks spanned optimal growth planning, stabilization policy, iterative dynamics, coupled dynamics, capital theory, and, above all, innovative teaching. Richard Goodwin was the pioneering endogenous, non-linear theorist of macrodynamic fluctuations, once referred to as trade cycle theory but now known as business cycle theory. ![]()
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