The story this paper tells, attempts to explain 1) how Neo-Classical growth theory happened to be simultaneously born by the hands of Solow (1956) and Swan (1956); and 2) how it carried its signature characteristics, i.e. the exogeneity of the long run growth driver. Both issues are ascribed to the heritage of unsolved problems from Macroeconomics, in its most mature version a non-linear theory of fluctuations.
Punzo, L.F. (2018). Growth theory as an unwanted child of macro-dynamics. INVESTIGACION ECONOMICA, 77(306), 3-20 [10.22201/fe.01851667p.2018.306.67802].
Growth theory as an unwanted child of macro-dynamics
Punzo Lionello Franco
Membro del Collaboration Group
2018-01-01
Abstract
The story this paper tells, attempts to explain 1) how Neo-Classical growth theory happened to be simultaneously born by the hands of Solow (1956) and Swan (1956); and 2) how it carried its signature characteristics, i.e. the exogeneity of the long run growth driver. Both issues are ascribed to the heritage of unsolved problems from Macroeconomics, in its most mature version a non-linear theory of fluctuations.
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https://hdl.handle.net/11365/1068458