Cycles, crises and innovation : path to sustainable development--a Kaleckian-Schumpeterian synthesis.

Cycles, crises and innovation are the major economic forces that shape capitalist economies. Central to this book is a critical realist political economy approach based on the works of Joseph Schumpeter and Michal Kalecki who identified cycles, crises and innovation as the three dynamic forces plotting the path of economic development. The book examines how the rise of capital, through investment, enshrines innovation in profit and power which determines the course of cycles and crises. Based on this analysis, strategic intervention by transformative eco-innovation is proposed as a public policy path to ecologically sustainable developmen