This book offers a novel perspective that allows to incorporate changing consumption and production structure into models of economic growth. Starting from the empirical observation that income and consumption structure are closely related, it develops a tractable theoretical framework which...

1. Introduction -- Part I: basic concepts -- 2. Piketty's contribution -- 3. Measurement -- 4. Inequality and aggregate demand -- Part II: endogenous dynamics and instability -- 5. Aggregate demand, growth and instability -- 6. Wealth, public debt and instability -- 7. Recursive workhorses --...