This work looks at the question of how we can explain the resilience and durability of capitalist economies. The author argues that the existence of open, developing economies provides a buffer that allows crisis-free and non-inflationary growth in capitalist economies.

In the tradition of Keynes, Harrod and Domar, Marx, and Kalecki, it offers an alternative path to the choice-theoretic models that have appeared to be the only modern analytical path.