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Journal of Economic Literature - Book Review

JEL Volume. 51, Issue 4 | leftPrevious Review Next Review right

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Book(s) Reviewed

The Growth Spiral: Money, Energy, and Imagination in the Dynamics of the Market Process by Hans Christoph Binswanger

Published By: New York and Heidelberg: Springer
ISBN: 978-3-642-31880-1
Date of Publication: 2013


Book Review Detail

Reviewed by: Jesse Perla of University of British Columbia
Review DOI: 10.1257/jel.51.4.1183.r12
Review Pages: 1205-06

Book Review Abstract

Jesse Perla of University of British Columbia reviews, "The Growth Spiral: Money, Energy, and Imagination in the Dynamics of the Market Process" by Hans Christoph Binswanger. The Econlit abstract of this book begins: "Revised translation of Die Wachstumsspirale (2006). Presents a new theoretical approach to understanding the modern economy, focusing on its dynamic aspects. Discusses the difference between market and barter—money and the making of markets; capital and the firm—the firm as the engine of the market process; money and money creation in a two-stage banking system; the development of the theories of production—valid insights and shortcomings; production involving nature and imagination; income distribution in the process of growth; the move from the theory of growth to the theory of the growing economy; the economic process as a growth spiral; the increase of the present value of profits as the growth impetus; the avoidance of losses as the growth imperative; and growth opportunities and growth obstacles—the role of the state. Binswanger is with the Institute for Economy and the Environment at the University of St. Gallen."


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Book Review Authors

Jesse Perla of University of British Columbia


JEL Classifications

D31: Personal Income, Wealth, and Their Distributions
D40: Market Structure and Pricing: General
E40: Money and Interest Rates: General
O40: Economic Growth and Aggregate Productivity: General


Journal of Economic Literature


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