Models of Investment-Dependent Economic Growth Revisited

Erich Streissler
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Erich Streissler: Institut für Wirtschaftswissenschaften der Universität

Chapter 8 in Economic Growth and Resources, 1980, pp 145-163 from Palgrave Macmillan

Abstract: Abstract So-called classical models of economic growth, both those of the original authors of classical economics, such as Smith2 and Marx3, and of their modern successors, such as von Neumann,4 suggest that the decisive cause of high economic growth is a high investment ratio (or, as it is frequently put, a high rate of savings). Neoclassical models, on the other hand, imply that the rate of growth cannot be permanently increased by a higher rate of capital formation.

Keywords: Technical Progress; Capital Formation; Investment Good; Capital Productivity; Neoclassical Model (search for similar items in EconPapers)
Date: 1980
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DOI: 10.1007/978-1-349-04063-6_8

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