In recent decades, new endogenous growth theory has become popular but the ideas are not new. They go back at least as far as Adam Smith, and the subsequent con

These 13 essays demonstrate the development of growth theory since the 1960s. The sequence of chapters reveals the shifts in focus which has occurred since the

In economics, the emergence of New Growth Theory in recent decades has directed attention to an old and important problem: what are the forces of economic growt

In recent decades, new endogenous growth theory has become popular but the ideas are not new. They go back at least as far as Adam Smith, and the subsequent con

Neoclassical growth theory is the dominant perspective for explaining economic growth. At its core are four implicit assumptions: 1) economic output can become