Corporation Growth and Economic Growth and Stability

John B. Guerard and Eli Schwartz
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John B. Guerard: McKinley Capital Management, Inc.
Eli Schwartz: Lehigh University

Chapter Chapter 20 in Quantitative Corporate Finance, 2007, pp 477-487 from Springer

Abstract: Abstract Economic growth is usually defined as the rise in total measurable economic output over a given period, i.e.; such as in the growth in real GDP modeled in Chapters 12 and 13. This is a definition of gross growth. However, if the population increases significantly in the same period, output per capita may remain constant or even decline. The average citizen of the country is no better off than before, and thus in one very relevant sense no economic growth has taken place. A net concept of growth (closer to welfare criteria) can be developed by using the increase in average output per capita. Another problem of measuring growth arises if the society shows a desire for an increase in leisure.

Date: 2007
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DOI: 10.1007/978-0-387-34465-2_20

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