Theorists of Economic Growth from David Hume to the Present: With a Perspective on the Next Century
This history of theories and theorists of economic growth elucidates the economic theory, economic history, and public policy observations of the renowned scholar W. W. Rostow. Looking at the economic growth theories of the classic economists up to 1870, Rostow compares Hume and Adam Smith, Malthus and Ricardo, and J.S. Mill and Karl Marx. He then examines the period 1870-1939 and its economic theorists, including Schumpeter, Colin Clark, Kuznets, and Harrod, and surveys the three forms of growth analysis in the postwar era: formal models, statistical morphology, and development theories. This authoritative overview also includes an agenda of unresolved problems in growth analysis and a description of the five major tasks statesmen will confront over the next several generations.
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Adam Smith advanced industrial agricultural Alfred Marshall Britain British business cycle capital century Chapter Clark classical Colin Clark consumption cyclical David Hume demand developing countries diminishing returns doctrine dynamic Economic Development economic growth economists employment equilibrium essay example exports factors Figure fluctuations force growth models growth rates Harrod human Hume Ibid important increasing returns innovation interest investment J. M. Keynes J. R. Hicks J. S. Mill Keynes Kondratieff Kuznets labor land limits to growth major Malthus manufactures Marshall Marshall’s Marx Marx’s Mill Mill’s modern national income neoclassical noneconomic output passage period Pioneers political economy population problem production profits rate of growth real wages relation relative prices Ricardo rise role saving Schumpeter Schumpeter's social society stages statistical supply takeoff technical progress terms of trade tion trend University Press variables W. W. Rostow wealth World Bank world economy