The Nature of Economic Growth: An Alternative Framework for Understanding the Performance of Nations

Anthony Philip Thirlwall

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Economic Theory and Policy Political Economy and Marxism Economic Growth and Productivity

Abstract

This text charts development economics as it evolved from Adam Smith to "new" or endogenous growth theory. Thirlwall is critical of the latter, and its predecessor neo-classical growth theory, and tries to put back demand as a driving force in growth theory.

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