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Economic Growth

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ISBN-10: 0262024594

ISBN-13: 9780262024594

Edition: 1999

Authors: Robert Barro, Xavier Sala-i-Martin

List price: $75.00
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Why do economies grow? What fixes the long-run rate of growth? These are some of the simplest, but also hardest, questions in economics. Growth of lack of it has huge consequences for a country's citizens. But for various reasons, growth theory has had long fallow patches. Happily, this is changing. In 1956 Robert Solow developed what became the standard neo-classical model of economic growth. Counties grow, on this theory, by accumulating labour and capital. Adding either obeys diminishing returns: the more labour or capital you already have, the more you need for a further given jump in output. One consequence is that an economy with less capital ought to outgrow one with more.…    
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Book details

List price: $75.00
Copyright year: 1999
Publisher: MIT Press
Publication date: 11/20/1998
Binding: Hardcover
Pages: 557
Size: 16.50" wide x 24.50" long x 1.00" tall
Weight: 1.936
Language: English