A New View of Economic Growth 1st Edition
-68%
Availability: In Stock

A New View of Economic Growth 1st Edition

SKU: 9780191521577

Original price was: $78.99.Current price is: $24.99.

Access A New View of Economic Growth 1st Edition Now. Discount up to 90%

Categories: ,

Additional information

Full Title

A New View of Economic Growth 1st Edition
Author(s)

Maurice FitzGerald Scott
Edition

1st Edition
ISBN

9780191521577
Publisher

Clarendon Press
Format

PDF and EPUB

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 given period, 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’s and Fabricant’s Laws relating to productivity growth in different industries; taxation; optimum growth; and the productivity slow-down after 1973 are also discussed.

Related products