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Paperback Growth Theory: An Exposition Book

ISBN: 0195056094

ISBN13: 9780195056099

Growth Theory: An Exposition

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Format: Paperback

Condition: Very Good*

*Best Available: (ex-library, missing dust jacket)

$46.39
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Book Overview

With American productivity growing at ever-smaller rates and international stock markets in spectacular turmoil, this distinguished book by one of the greatest living economists is more timely than ever. Organized around the famous Harrod-Domar conditions for equilibrium in a growing economy, Growth Theory: An Exposition presents a concise survey of the modern macroeconomic theory of growth, showing how the character of full-employment growth equilibrium changes and enlarges as more complicated assumptions are made about technology, invention, saving, and the existence of monetary assets. The book explores general policy issues and includes an elementary exposition of the problem of optimal paths of capital accumulation, and the discounting of the benefits of public investments. The paperback edition features the full text of Solow's Nobel Prize acceptance speech.

Customer Reviews

3 ratings

On the book

I am compelled to write a review after reading with utter disbelief the negative comments that some fool posted above. He/she rambles how Solow's book does not account for human capital. Well, if that person had actually bothered reading the book (or even taking some basic growth theory classes, but after reading his/her syntax we can safely assume that it is too much to be wished for), he/she would realize that the book DOES INDEED cover various variations/enrichments of the standard Solow, including indeed the Lucas Human capital variation.This book is a nice addition for any growth economist/student library. To the "reviewer" above: get an education before you start even THINKING about criticizing economists of professor Solow's stature.

It's a classical economic book.

This book is a classical book, it's very important to read because is one of the most important theory, if you are agree or disagree no matter. If you want criticizing the neoclassical theory you need to understand all the Solow argument. I'm not very convinced of this theory, but it's fundamental to read this book.

A Masterly Study

This is a masterly study. Solow speaks about the old neoclassical growth theory in the first half of the book and then goes on in the second half to review the developments of new growth theory that started in the mid eighties. He comments on the essence of Lucas' work (on human capital), Romer's work (on endogenous technical change), the work of Grossman and Helpman (on quality ladders) and that of Aghion and Howitt (on creative destruction). These references have now reached the status of classics in endogenous growth theory. Solow provides penetrating insights into the new developments. The book is a must for any student of the subject interested in traversing the bridge that connects the old to the new growth theory.
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