Power cycle theory, both as description and as explanation, is a robust framework of analysis that facilitates the examination of the rise and decline of relative state power according to the “single dynamic” linking state and system. Discussing the key driving forces of economic development from remarkably differentiated perspectives, three writers of economics, Karl Marx, Amartya Sen, and David Landes, reveal one important aspect of the power cycle—what generates it. The article reflects on Japanese economic renewal and the implications of change on the power cycle for dynamic equilibrium.
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