Conclusion: Policy Implications

Martin Zagler

Chapter 9 in Endogenous Growth, Market Failures and Economic Policy, 1999, pp 158-167 from Palgrave Macmillan

Abstract: Abstract Much has been said about the different engines of economic growth. The following concluding remarks are aimed to clarify the issue and to elaborate the practical application of all the previous theorizing. This Conclusion explains why there is a need for economic policy or why the market is not a sufficient instrument to ensure allocative efficiency — just as it never helped to secure distributive justice, a point which is discussed in section 9.3.

Keywords: Human Capital; Distributive Justice; Marginal Product; Knowledge Spillover; Rational Expectation (search for similar items in EconPapers)
Date: 1999
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DOI: 10.1007/978-1-349-27129-0_9

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