Machines and Economic Growth by Natalie Mcpherson

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Summary

The historical record concerning industrialization since 1770 is consistent with the classical view of economic growth, but not with the currently accepted neo-classical growth theory. Nineteenth-century industrialization, the world wars and the Depression, the post-war boom, and the more recent slowdown in growth are discussed.

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Machines and Economic Growth by Natalie Mcpherson

The historical record concerning industrialization since 1770 is consistent with the classical view of economic growth, but not with the currently accepted neo-classical growth theory. Flaws in the logic and empirical short-comings of the neo-classical theory suggest that it should be rejected. Specifically, ideas that originate in static concepts cannot be applied to growth, a dynamic process. Nineteenth-century industrialization, the world wars and the Depression, the post-war boom, and the more recent slowdown in growth are discussed.

NATALIE McPHERSON is Assistant Professor of Economics at Eastern Illinois University, Charleston, Illinois

SKU Unavailable
ISBN 13 9780313292552
ISBN 10 0313292558
Title Machines and Economic Growth
Author Natalie Mcpherson
Series Contributions In Economics And Economic History Ser
Condition Unavailable
Binding Type Hardback
Publisher Bloomsbury Publishing Plc
Year published 1994-10-26
Number of pages 280
Cover note Book picture is for illustrative purposes only, actual binding, cover or edition may vary.