Skip to main content
Harvard University Press - home
Growth and Distribution

Growth and Distribution

Second Edition

Duncan K. Foley, Thomas R. Michl, Daniele Tavani

ISBN 9780674986428

Publication date: 02/11/2019

Request exam copy

A major revision of an established textbook on the theory, measurement, and history of economic growth, with new material on climate change, corporate capitalism, and innovation.

Authors Duncan Foley, Thomas Michl, and Daniele Tavani present Classical and Keynesian approaches to growth theory, in parallel with Neoclassical ones, and introduce students to advanced tools of intertemporal economic analysis through carefully developed treatments of land- and resource-limited growth. They cover corporate finance, the impact of government debt and social security systems, theories of endogenous technical change, and the implications of climate change. Without excessive formal complication, the models emphasize rigorous reasoning from basic economic principles and insights, and respond to students’ interest in the history and policy dilemmas of real-world economies.

In addition to carefully worked out examples showing how to use the analytical techniques presented, Growth and Distribution presents many problems suitable for inclusion in problem sets and examinations. Detailed answers to these problems are available. This second edition includes fresh data throughout and new chapters on climate change, corporate capitalism, models of wealth inequality, and technical change.


  • The first edition of Growth and Distribution was wonderful—I refer back to it time and again. The second edition is even better, extending the analysis to demand-driven growth, wealth accumulation, and climate change. This is a book about growth theory that every serious economist of either mainstream or heterodox persuasion must read and master.

    —Lance Taylor, Arnhold Professor Emeritus, The New School for Social Research


  • Duncan K. Foley is Leo Model Professor of Economics at The New School for Social Research.
  • Thomas R. Michl is Professor of Economics at Colgate University.
  • Daniele Tavani is Associate Professor of Economics at Colorado State University.

Book Details

  • 416 pages
  • 6-1/8 x 9-1/4 inches
  • Harvard University Press

From this author