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A Nonlinear History of Growth and Cycle Theories.

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    • Abstract:
      The article discusses the history of theories regarding economic cycles and their relation to macroeconomic theories of growth. It describes the influence of economists Robert Solow and Trevor Swan, their development of the Neoclassical model of economic growth, and how the Neoclassical model helps explain the characteristics of business cycles. Other subjects under discussion include the economic theories of economists John von Neumann and Wassily Leontief, the characteristics of trade cycles, and full-employment equilibrium models.