Ideas and Concepts of Long Run Growth

Josef Steindl

Chapter 10 in Economic Papers 1941–88, 1990, pp 127-138 from Palgrave Macmillan

Abstract: Abstract ‘Long run’ and technical progress are subjects which have lain dormant from the Classics to the end of the second World War, if exception is made for Marx and Schumpeter. Since then curiosity about them has been aroused again, impelled from different sides: the interest of the former colonies in development on the one hand, and a renewed optimism in mature industrial countries on the other, combining as it did Keynesian policies and technical progress in an attempt to drown social antagonisms in a flood of prosperity. Each of the two interests has given rise to a separate theory and literature, understandably in view of the large difference in problems. It would be desirable to bring them under the same roof, as it were, but I shall be modest enough to confine myself to the industrial countries.

Keywords: Technical Progress; Natural Rate; Random Shock; Saving Ratio; Effective Demand (search for similar items in EconPapers)
Date: 1990
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DOI: 10.1007/978-1-349-20821-0_10

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