Tell your friends about this item:
Golden Rules of Economic Growth: Studies of Efficient and Optimal Investment
Edmund S. Phelps
Golden Rules of Economic Growth: Studies of Efficient and Optimal Investment
Edmund S. Phelps
This volume of twelve interlocked essays in mathematical economics deals with a central problem of modern economic theory: the search for a path to an optimum level of economic growth. The meaning of the Golden Rule concept is thoroughly expounded, and certain analogues are presented to show that the fundamental notion of a "commanding" growth path is encountered even in models in which no pure and simple Golden Rule path exists. The Golden Rule concept is tested and applied to a number of theoretical formulations and then extended to several kinds of investment other than capital formation, as the author postulates a Golden Rule of Research, a Golden Rule of Education, and even a concept dealing with population control-a Golden Rule of Procreation. This thorough and original work is important reading for students of macroeconomic theory, growth, development, and capital theory.
208 pages
Media | Books Paperback Book (Book with soft cover and glued back) |
Released | October 23, 2024 |
ISBN13 | 9780393330564 |
Publishers | WW Norton & Co |
Pages | 208 |
Dimensions | 127 × 203 × 213 mm · 267 g |
Language | English |
More by Edmund S. Phelps
See all of Edmund S. Phelps ( e.g. Paperback Book , Hardcover Book and Audiobook (CD) )