Some Observations on the Engine and Fuel of Economic Growth

G. R. Feiwel

Chapter 18 in Issues in Contemporary Macroeconomics and Distribution, 1985, pp 395-428 from Palgrave Macmillan

Abstract: Abstract The economic merit of a system depends on the valuation scale and the time-frame adopted. An economy’s resources could be used for various ends, for good or evil, fully or partly, more or less efficiently at a point of time or in the long run, with greater or smaller capacity to create new and destroy the old, with varied arrangements for resource allocation, with varied institutional and ideological adjustments to change, and with divergent consequences for the quality of life. The kind of society we want and the ends of economic activity we must choose ourselves; our function as economists is to enlighten our fellow citizens about what can and cannot be done. Regretfully in matters of economic policy the don’ts are often much clearer than the do’s.

Keywords: Economic Growth; Monetary Policy; Productivity Growth; Supply Side; Capital Formation (search for similar items in EconPapers)
Date: 1985
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-06879-1_18

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DOI: 10.1007/978-1-349-06879-1_18

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