How can society improve its living standards? What are the conditions necessary for prosperity? These are the questions that define the essence of growth theory. In this user-friendly book, Olivier de la Grandville provides a fascinating introduction to the theory of economic growth and shows how ma...

Full description

Bibliographic Details

Main Author:	La Grandville, Olivier de (Author)
Format:	Electronic eBook
Language:	English
Published:	Cambridge Cambridge University Press 2008
Subjects:	Mathematisches Modell Wirtschaft Wirtschaftsentwicklung Economic development Economics / Mathematical models Wachstumstheorie
Online Access:	BSB01 UBG01 Volltext
Summary:	How can society improve its living standards? What are the conditions necessary for prosperity? These are the questions that define the essence of growth theory. In this user-friendly book, Olivier de la Grandville provides a fascinating introduction to the theory of economic growth and shows how many results from this field are of paramount importance for society. The classical mechanics of the growth process are carefully explained, with two chapters devoted to the fundamental issue of the substitution of labor for capital in the growth process (co-written with Robert M. Solow, winner of the Nobel Prize in Economics). The book also addresses the fundamental question of the optimal investment rate of an economy. In addition, de la Grandville shows us that by unifying the descriptive and normative aspects of growth theory we can generate many fresh insights, including a proof of Adam Smith's 'Invisible Hand' conjecture
Item Description:	Title from publisher's bibliographic system (viewed on 05 Oct 2015)
Physical Description:	1 online resource (xiii, 361 pages)
ISBN:	9780511609893
DOI:	10.1017/CBO9780511609893