Bridging Schumpeterian and SFC approaches: Insights from the UNU-MERIT session at ISS2024

Last summer, the project team from UNU-MERIT organised an insightful session during the International Schumpeter Society Conference 2024 (ISS2024), held in Gothenburg, Sweden. The overarching theme of ISS2024 was Transformation: Creative Accumulation and Creative Destruction in the Economy.

The UNU-MERIT session, titled Should Schumpeterian macroeconomics be(come) stock-flow consistent?, was co-organised with the TWINRD project. The session aimed at bridging two prominent academic traditions: evolutionary Schumpeterian macroeconomics and the Stock-Flow Consistent (SFC) modelling approach from post-Keynesian economics.

Through short presentations by three specialists, followed by a dynamic roundtable discussion, participants examined how integrating these two methodologies could generate deeper insights into pressing global challenges—such as green transformations and building a fairer international economy.

This session marked a significant step towards greater convergence between distinct economic modelling traditions, highlighting opportunities for collaborative advancement in tackling macroeconomic challenges.