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Look Inside The Path of Economic Growth

The Path of Economic Growth

$54.99 (C)

Edward J. Nell
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  • Date Published: December 2009
  • availability: Available
  • format: Paperback
  • isbn: 9780521125338

$54.99 (C)

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About the Authors
  • 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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    Product details

    • Date Published: December 2009
    • format: Paperback
    • isbn: 9780521125338
    • length: 352 pages
    • dimensions: 229 x 152 x 20 mm
    • weight: 0.52kg
    • availability: Available
  • Table of Contents

    Part I. The Basic Model:
    1. Introduction: scope and method
    2. Patterns of economic growth
    3. A schema of industrial production
    4. The circulation of fixed capital
    5. The circulation of working capital
    6. The stationary process in operation: structure analysis
    7. The stationary process in operation: force analysis
    8. Transition to dynamic equilibrium
    9. Dynamic equilibrium: structure analysis
    10. Dynamic equilibrium: force analysis
    Part II. Changes in the Rate of Change: The Dynamics of Labour Supply:
    11. The setting of the problem
    12. A bird's-eye view of an expanding traverse
    13. On the short-period variability of the capital-labour supply in a free market
    14. Adjustment to a higher rate of growth of labour supply in a free market: I. Structure analysis
    15. Adjustment to a higher rate of growth of labour supply in a free market: II. Force analysis
    16. Adjustment to a higher rate of growth of labour supply in a collectivist system
    17. Some comments on the role of working capital in the traverse
    18. Instrumental analysis of decline in the rate of growth of labour supply
    Part III. Changes in the Rate of Change: The Dynamics of Natural Resources Supply:
    19. The dynamics of diminishing returns
    20. Recycling of production and consumption residuals and the structure of production
    Part IV. Changes in the Rate of Change: The Dynamics of Technological Progress:
    21. The scope of the investigation
    22. Dynamic equilibrium once more
    23. Nonneutral innovations: a general survey
    24. Pure labour-displacing innovations
    25. Pure capital-displacing innovations
    26. Some comments on combined changes in the input of labour and capital
    27. Technical progress and diminishing returns
    28. Some concluding remarks
    Appendix: an alternative presentation of Lowe's basic model Edward J. Nell
    Glossary of recurring symbols
    Name index
    Subject index.

  • Author

    Adolph Lowe


    Edward J. Nell

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