Lectures on economic growth
Author(s)
Bibliographic Information
Lectures on economic growth
Harvard University Press, 2002
- : pbk
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Note
Includes bibliographical references (p. 191-199) and index
Description and Table of Contents
- Volume
-
ISBN 9780674006270
Description
In this book the Nobel Prize-winning economist Robert Lucas collects his writings on economic growth, from his seminal "On the Mechanics of Economic Development" to his previously unpublished 1997 Kuznets Lectures. The chapters progress from a general theory of how growth could be sustained and why growth rates might differ in different countries, to a model of exceptional growth in certain countries in the 20th century, to an account of the take-off of growth in the Industrial Revolution, and finally to a prediction about patterns of growth in the 21st century. The framework in all the chapters is a model with accumulation of both physical and human capital, with emphasis on the external benefits of human capital through diffusion of new knowledge or on-the-job learning, often stimulated by trade. The Kuznets Lectures consider the interaction of human capital growth and the demographic transition in the early stages of industrialization.
In the final chapter, Lucas uses a diffusion model to illustrate the possibility that the vast intersociety income inequality created in the course of the Industrial Revolution may have already reached its peak, and that income differences will decline in the 21st century.
- Volume
-
: pbk ISBN 9780674016019
Description
In this book the Nobel Prize-winning economist Robert Lucas collects his writings on economic growth, from his seminal On the Mechanics of Economic Development to his previously unpublished 1997 Kuznets Lectures.
The chapters progress from a general theory of how growth could be sustained and why growth rates might differ in different countries, to a model of exceptional growth in certain countries in the twentieth century, to an account of the take-off of growth in the Industrial Revolution, and finally to a prediction about patterns of growth in this new century. The framework in all the chapters is a model with accumulation of both physical and human capital, with emphasis on the external benefits of human capital through diffusion of new knowledge or on-the-job learning, often stimulated by trade. The Kuznets Lectures consider the interaction of human capital growth and the demographic transition in the early stages of industrialization. In the final chapter, Lucas uses a diffusion model to illustrate the possibility that the vast intersociety income inequality created in the course of the Industrial Revolution may have already reached its peak, and that income differences will decline in this century.
Table of Contents
Acknowledgments Introduction 1. On the Mechanics of Economic Development 2. Why Doesn't Capital Flow from Rich to Poor Countries? 3. Making a Miracle 4. Some Macroeconomics for the Twenty-First Century 5. The Industrial Revolution: Past and Future References Index
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