Steady State and Sustainability

Colin Read

Chapter 29 in The Rise and Fall of an Economic Empire, 2010, pp 251-255 from Palgrave Macmillan

Abstract: Abstract Keynes convinced us that the economy could settle on any number of equilibria, some of which are worse than others. A nation aspiring to join the First Economic World will grow at a rate that is not sustainable, if history is any indication. Meanwhile, the Third Economic World languishes in corrupt government and inadequate protection of property. The steady-state equilibrium remains unchanged until property rights and good government are forthcoming.

Keywords: Economic World; Good Government; Economic Empire; Proper Equilibrium; Corrupt Government (search for similar items in EconPapers)
Date: 2010
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-29707-4_30

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DOI: 10.1057/9780230297074_30

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