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Author: Maurice FitzGerald Scott Publisher: Oxford University Press ISBN: 9780198287421 Category : Business & Economics Languages : en Pages : 658
Book Description
This book presents a major new theory of economic growth. Orthodox theories explain both the level and growth of output by three main variables: employment, the capital stock, and technical progress. The new theory does not attempt to explain the level of output, only its change over a givenperiod, and so is more historical. The capital stock is not of central interest, and there is no separate rate of technical progress. The two main explanatory variables are the growth of employment and the rate of investment. As well as demolishing existing orthodox theories, the book demonstrates that the new theory can be used to explain why growth rates differ between different countries (mainly the United States, Japan, and the United Kingdom) and periods, and why the shares of profits and wages differ. Verdoon'sand Fabricant's Laws relating to productivity growth in different industries; taxation; optimum growth; and the productivity slow-down after 1973 are also discussed.
Author: Maurice FitzGerald Scott Publisher: Oxford University Press ISBN: 9780198287421 Category : Business & Economics Languages : en Pages : 658
Book Description
This book presents a major new theory of economic growth. Orthodox theories explain both the level and growth of output by three main variables: employment, the capital stock, and technical progress. The new theory does not attempt to explain the level of output, only its change over a givenperiod, and so is more historical. The capital stock is not of central interest, and there is no separate rate of technical progress. The two main explanatory variables are the growth of employment and the rate of investment. As well as demolishing existing orthodox theories, the book demonstrates that the new theory can be used to explain why growth rates differ between different countries (mainly the United States, Japan, and the United Kingdom) and periods, and why the shares of profits and wages differ. Verdoon'sand Fabricant's Laws relating to productivity growth in different industries; taxation; optimum growth; and the productivity slow-down after 1973 are also discussed.
Author: Edward A. Hudson Publisher: Vernon Press ISBN: 1622739728 Category : Business & Economics Languages : en Pages : 611
Book Description
How does economic growth work? Beginning with the history of leading countries over the past 2000 years, Economic Growth finds which countries have achieved sustained growth and how they did it. The effects of growth are examined on a human scale. The benefits of growth are enormous in terms of life, health, education, leisure and opportunity, while the downsides can be managed by appropriate policies. Economic Growth develops a new theory of growth. This new theory is based on careful analysis of actual growth; it covers the causes and mechanisms as well as the results of growth. This new theory extends conventional theory by operating at the industry level and by placing demand considerations at the forefront of growth. Demand growth – based on product innovation, marketing, credit and the consumer society – drives the economy forward while supply growth – based on investment and process innovation – sustains the growth in spending and incomes. Growth is not automatic but, in the right conditions, demand and supply expansion work together to generate sustained growth. Economic Growth offers a new view of growth, unique in its combination of historical depth, intellectual clarity and practical relevance. Its original insights will interest academic and professional economists, while its comprehensive treatment and lucid explanations make it an excellent guidebook for anyone interested in economic growth.
Author: The Bush Institute Publisher: Crown Currency ISBN: 0307986152 Category : Business & Economics Languages : en Pages : 370
Book Description
Foreword by President George W. Bush With contributions from world renowned economists and Nobel prizewinners, The 4% Solution is a blueprint for restoring America’s economic health The United States is reaching a pivotal point in its economic history. Millions of Americans owe more on their homes than they are worth, long-term unemployment is alarmingly high, and the Congressional Budget Office is projecting a sustainable growth rate of only 2.3%—a full percentage point below the average for the past sixty years. Unless a turnaround comes quickly, the United States could be mired in debt for years to come and millions of Americans will be pushed to the sidelines of the economy. The 4% Solution offers clear and unflinching ideas on how to revive America’s economy. It sets a positive economic goal and asks some of the top economic minds on how to achieve it. With a focus on removing government constraints, The 4% Solution defines the policies that will allow Americans to save, invest, and create the jobs that the United States needs. The 4% Solution draws on the best minds in the business, including five Nobel laureates: · Robert E. Lucas, Jr., on the history and future of economic growth · Gary S. Becker on why we need immigrants in order to grow · Edward Prescott on the cost (to growth) of the welfare state · Vernon Smith on why housing leads us into and out of recessions · Myron Scholes on why we need to innovate in order to grow the economy
Author: Ronald I. McKinnon Publisher: Brookings Institution Press ISBN: 9780815718499 Category : Business & Economics Languages : en Pages : 204
Book Description
This books presents a theory of economic development very different from the "stages of growth" hypothesis or strategies emphasizing foreign aid, trade, or regional association. Leaving these aside, the author breaks new ground by focusing on the use of domestic capital markets to stimulate economic performance. He suggests a "bootstrap" approach in which successful development would depend largely on policy choices made by national authorities in the developing countries themselves. Central to his theory is the freeing of domestic financial markets to allow interest rates to reflect the true scarcity of capital in a developing economy. His analysis leads to a critique of prevailing monetary theory and to a new view of the relation between money and physical capital—a view with policy implications for governments striving to overcome the vicious circle of inflation and stagnation. Examining the performance of South Korea, Taiwan, Brazil, and other countries, the author suggests that their success or failure has depended primarily on steps taken in the monetary sector. He concludes that monetary reform should take precedence over other development measures, such as tariff and tax reform or the encouragement of foreign capital investment. In addition to challenging much of the conventional wisdom of development, the author's revision of accepted monetary theory may be relevant for mature economies that face monetary problems.
Author: Maurice F. G. Scott Publisher: ISBN: 9780191596872 Category : Economic development Languages : en Pages : 592
Book Description
The author takes issue with orthodox theory by using the growth of employment and the rate of investment as the key variables in explaining economic growth over a given period. He tests his theories on the USA, Japan, and the UK.
Author: David N. Weil Publisher: Prentice Hall ISBN: 9780321795731 Category : Business & Economics Languages : en Pages : 556
Book Description
Why are some countries rich and others poor? David N. Weil, one of the top researchers in economic growth, introduces students to the latest theoretical tools, data, and insights underlying this pivotal question. By showing how empirical data relate to new and old theoretical ideas, Economic Growth provides readers with a complete introduction to the discipline and the latest research.
Author: Robert J. Gordon Publisher: Princeton University Press ISBN: 1400888956 Category : Business & Economics Languages : en Pages : 785
Book Description
How America's high standard of living came to be and why future growth is under threat In the century after the Civil War, an economic revolution improved the American standard of living in ways previously unimaginable. Electric lighting, indoor plumbing, motor vehicles, air travel, and television transformed households and workplaces. But has that era of unprecedented growth come to an end? Weaving together a vivid narrative, historical anecdotes, and economic analysis, The Rise and Fall of American Growth challenges the view that economic growth will continue unabated, and demonstrates that the life-altering scale of innovations between 1870 and 1970 cannot be repeated. Gordon contends that the nation's productivity growth will be further held back by the headwinds of rising inequality, stagnating education, an aging population, and the rising debt of college students and the federal government, and that we must find new solutions. A critical voice in the most pressing debates of our time, The Rise and Fall of American Growth is at once a tribute to a century of radical change and a harbinger of tougher times to come.
Author: W. Arthur Lewis Publisher: Routledge ISBN: 1135033498 Category : Business & Economics Languages : en Pages : 434
Book Description
a landmark in the contemporary approach to economics"The Observer "it is as good a book as its most obvious predecessors in the genre: Smith's Wealth of Nations and Marshall's Industry and the Trade"Times Educational Supplement Setting out the problems to be solved if mankind is to be freed from poverty, Theory of Economic Growth embraces the disciplines of economics, history, sociology, politics and anthropology in its coverage. Focussing on output and growth (rather than distribution and consumption) the book discusses economic institutions, knowledge, capital, population, resources and government, and their role in the growth of output per head of population.
Author: W. W. Rostow Publisher: ISBN: 9781684221578 Category : Languages : en Pages : 192
Book Description
2017 Reprint of 1960 First Edition. Full facsimile of the original edition, not reproduced with Optical Recognition software. In the text Professor Rostow gives an account of economic growth based on a dynamic theory of production and interpreted in terms of actual societies. Five basic stages of economic growth are distinguished with detailed discussions of each stage including illustrative examples. Rostow also applies the concept of stages of growth to an examination of the problems of military aggression and the nuclear arms race. The final chapter includes a comparison of his non-communist manifesto with Marxist theory. Remains a classic text on the subject.
Author: Maurice FitzGerald Scott
Author: Maurice FitzGerald Scott
Author: Edward A. Hudson
Author: David de la Croix
Author: The Bush Institute
Author: Ronald I. McKinnon
Author: Maurice F. G. Scott
Author: David N. Weil
Author: Robert J. Gordon
Author: W. Arthur Lewis
Author: W. W. Rostow