Synopsis
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.
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Review
"One of the most interesting and controversial books on economic growth to have appeared in recent years. It skillfully blends theoretical and applied analyses and is well written."--The Economic Journal"The book offers a consistent and novel way of describing the growth process, one that can be taken to the data and compared with alternative models of growth....It will yield a stream of payoffs in the form of challenging insights and provocative claims."Journal of Economic Literature
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A New View of Economic Growth
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A New View of Economic Growth
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Oxford University Press, USA, 1991
ISBN 10: 0198287429
ISBN 13: 9780198287421
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A New View of Economic Growth
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ISBN 10: 0198287429
ISBN 13: 9780198287421
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Condition: Good. Your purchase helps support Sri Lankan Children's Charity 'The Rainbow Centre'. Ex-library, so some stamps and wear, but in good overall condition. Our donations to The Rainbow Centre have helped provide an education and a safe haven to hundreds of children who live in appalling conditions. Seller Inventory # Z1-G-034-01943
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A New View of Economic Growth (Clarendon Paperbacks)
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Taschenbuch. Condition: Gut. 642 Seiten ex Library Book aus einer wissenschaftlichen Bibliothek Sprache: Englisch Gewicht in Gramm: 969. Seller Inventory # 294015
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A New View of Economic Growth
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ISBN 10: 0198287429
ISBN 13: 9780198287421
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Paperback. Condition: Very Good. Reprint of 1989 hardcover Edigion. Text block Near Fine (8 pges have a little underlining). The spine is lightly sunned, the rear cover has two faint vertical creases, the corners are lightly curved outward,.592 pages. Shipping may be extra for this heavy book, please inquire.; 6 x 9 ''. Seller Inventory # 53512
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A NEW VIEW OF ECONOMIC GROWTH.:
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ISBN 10: 0198287429
ISBN 13: 9780198287421
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A New View of Economic Growth
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paperback. Condition: New. In shrink wrap. Looks like an interesting title! Seller Inventory # Q-0198287429