Abstract
SHS investigation development is considered from the geographical and historical viewpoint. 3 stages are described. Within Stage 1 the work was carried out in the Department of the Institute of Chemical Physics in Chernogolovka where the scientific discovery had been made. At Stage 2 the interest to SHS arose in different cities and towns of the former USSR. Within Stage 3 SHS entered the international scene. Now SHS processes and products are being studied in more than 50 countries.
Abstract
This chapter explores the foundations of some theories about economic growth and business cycles by surveying influential works of political economy. Firstly, we examine Adam Smith’s contribution to the study of the impacts of the division and the specialization of labour on productivity and economic growth in the context of free markets. Then, we present the contribution of Joseph Schumpeter to the capitalist development based on cyclical innovations as structural changes in a longterm process of creative destruction. Finally, we consider the more recent writings of Hyman Minsky that examined the real-world of financial institutions and studied issues connected with growth, business cycles and financial institutions.
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Authors:Bentham Science Books