The agenda for growth theory: a different point of view

Article Abstract:

Technology has been seen as a key element in economic growth according to neoclassical economics. More modern neoclassical models assume that technological developments are endogenous. New growth theory tends to concentrate on immediate sources that stimulate growth. There is a need to go beyond immediate sources and to develop a broad theory that integrates different variables, including institutional factors. There is also a need for insights from formal theorising to help develop appreciative theorising.

Institutional economics

---

Savings and economic growth in neoclassical theory

Article Abstract:

Savings affects levels of economic growth, according to neoclassical economics. There are problems with this view which have been tackled in different ways. The Solow-Swann model showed that the growth rate was not affected by the savings rate, and savings could push down the marginal productivity of capital if no exogenous circumstances prevent this. Endogenous growth theory was developed to tackle this problem. Both views can be criticised for placing too much emphasis on supply.

Economic aspects, Savings, Technological innovations

---

Moving targets: the multifarious world of Paolo Sylos Labini

Article Abstract:

Paolo Sylos Labini viewed economics as a dynamic process and a precondition to understanding real conditions and developments. Economics, to Labini, was concerned with 'interaction' as an ongoing process, ignoring any search for equilibrium as a determining factor. Labini's economics is closer to the classical school of Marx and Schumpeter and critical of Keynes and neoclassical economists for neglecting long-term dynamics.

Oligarchy, Keynesian economics, Labini, Paolo Sylos

Similar abstracts:

• Abstracts: Corporate investments and growth options. Strategy as economics versus economics as strategy. Integrating transaction costs theory and real options theory
• Abstracts: The market for preferences. Akerlof and Kranton on identity in economics: inverting the analysis. Principles of neo-Schumpeterian economics
• Abstracts: Technology and the small economic development office. Analyzing a retail trade area. Using technology in the office of the High Point Economic Development Corporation
• Abstracts: Fundamental tax reform in the United States. VATs and CEE countries: a survey and analysis. Towards a new tax covenant
• Abstracts: Further reflections on the behavioral norms of Islamic economics. The logic of financial westernization in the Middle East

This website is not affiliated with document authors or copyright owners. This page is provided for informational purposes only. Unintentional errors are possible.