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neoclassical growth theory

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Economic Growth

Part of the book series: The New Palgrave Economics Collection ((NPHE))

Abstract

Neoclassical growth theory is not a theory of history. In a sense it is not even a theory of growth. Its aim is to supply an element in an eventual understanding of certain important elements in growth and to provide a way of organizing one’s thoughts on these matters. For instance, the question of whether technical progress is bound to be associated with unemployment cannot be decisively answered by the theory but it goes a long way in pinpointing those considerations on which an answer depends.

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Authors
  1. F. H. Hahn
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Editor information

Editors and Affiliations

  1. University of Wisconsin-Madison, USA

    Steven N. Durlauf

  2. Cornell University, USA

    Lawrence E. Blume

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© 2010 Palgrave Macmillan, a division of Macmillan Publishers Limited

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Hahn, F.H. (2010). neoclassical growth theory. In: Durlauf, S.N., Blume, L.E. (eds) Economic Growth. The New Palgrave Economics Collection. Palgrave Macmillan, London. https://doi.org/10.1057/9780230280823_24

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