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PSST: Patterns of Sustainable Specialization and Trade

Arnold Kling

Capitalism and Society2011https://doi.org/10.2202/1932-0213.1086article
ABDC C
Weight
0.35

What the paper says

This essay offers an alternative way to look at macroeconomics. The current standard approach uses aggregate supply and aggregate demand (AS-AD). I call the alternative approach patterns of sustainable specialization and trade (PSST). The PSST approach combines many old and new strands in economics. It suggests that the economy is a highly complex system that is constantly adapting to new circumstances, especially opportunities created by technological innovation. We can view employment fluctuations as a reflection of the difficulty that markets sometimes have in making the necessary adjustments, so that for a period of time some workers have extremely low marginal revenue product and as a result become unemployed.Comments on this paper can be found at: http://ssrn.com/abstract=2208042

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https://doi.org/https://doi.org/10.2202/1932-0213.1086

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@article{arnold2011,
  title        = {{PSST: Patterns of Sustainable Specialization and Trade}},
  author       = {Arnold Kling},
  journal      = {Capitalism and Society},
  year         = {2011},
  doi          = {https://doi.org/https://doi.org/10.2202/1932-0213.1086},
}

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Evidence weight

0.35

Balanced mode · F 0.40 / M 0.15 / V 0.05 / R 0.40

F · citation impact0.25 × 0.4 = 0.10
M · momentum0.20 × 0.15 = 0.03
V · venue signal0.50 × 0.05 = 0.03
R · text relevance †0.50 × 0.4 = 0.20

† Text relevance is estimated at 0.50 on the detail page — for your query’s actual relevance score, open this paper from a search result.