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The path of economic growth
Authors: --- ---
ISBN: 0521208882 0521125332 0511898320 9780521208888 9780521125338 9780511898327 Year: 1976 Publisher: Cambridge: Cambridge university press,

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Abstract

The writings on the theory of economic growth share almost without exception two characteristics - they deal exclusively with steady growth or equilibrium dynamics, and they try to predict the actual course of long-term development on the basis of greatly oversimplified behaviour assumptions. This book, first published in 1976, studies the many variants of a disequilibrium path, which growth processes pursue under the impact of major growth stimuli - changes in labour supply, in natural resources, and in technology. The study gives direction to public policies, sharply distinguishing between the requirements of market economies and of planned systems.

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