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Traditional economic theories explain the level and growth of output by three main variables: employment, the capital stock, and technical progress. This book presents a major new theory of economic growth which explains changes in output over a given period and uses only employment growth and rate ...

Traditional economic theories explain the level and growth of output by three main variables: employment, the capital stock, and technical progress. This book presents a major new theory of economic growth which explains changes in output over a given period and uses only employment growth and rate of investment as the main explanatory variables. The author also demonstrates how this theory can be used to explain why growth rates differ between different countries and periods, and why shares of wages and profits differ.

'...this is an interesting book containing on the whole respectable well-tried approaches typical of the mid-to-late 1990s and addressing serious issues of real practical concern to human welfare, rather than being an exposé of avant-garde innovations in methodology or theory...the contributions are ...

'...this is an interesting book containing on the whole respectable well-tried approaches typical of the mid-to-late 1990s and addressing serious issues of real practical concern to human welfare, rather than being an exposé of avant-garde innovations in methodology or theory...the contributions are well written and accessible, so that the book could profitably be used as supplementary reading by advanced students of regional economics, regional science or quantitative economic geography. The editors and authors, have made a significant and important contribution.' - Bernard Fingleton, University of Cambridge, UK '...this is an interesting book ...The most appreciative readership is likely to be quantitatively inclined academic economic geographers, regional scientists, regional and applied economists, and policymakers in government and commerce.... The editors and authors have made a significant and important contribution.' - Journal of Economic Geography 'As is the case with most conference volumes the subject matter is rather diverse. However, unlike most conference volumes, this book maintains a natural and steady flow of ideas.... there are some interesting and provocative ideas to be found in the book.... Economic Growth and Change is a book that certainly deserves a look. It contains some interesting ideas and illuminates some interesting trends. Much of the book is devoted to the European post-war experience, which makes it rather unique among books on economic growth. For this reason, it may be particularly appealing to European researchers and policymakers.' - Stephen L. Parente, EH.NET The pursuit of economic growth is at the top of every nation's policy agenda at the end of the 20th century. This authoritative and comprehensive book goes beyond the narrowly-based convergence model of economic growth by considering global, national and regional patterns of growth from a comparative perspective. Issues examined include: the evolution of the firm and the role of R&D long-term implications of the loss of national sovereignty international 'openness' social and political institutions patterns of regional harmonization in the United States, particularly income and earnings trends across states and the reasons for convergence persistent regional disparities in Europe including the roles of sectoral transformation, regional spillovers, human capital formation and the allocation of structural funds the experience of convergence in individual countries including Italy, the UK, Spain and Germany

The economic performance of many countries has deteriorated significantly during the last decade. The 1990s witnessed a global recession, the Mexican currency crisis and later, the Asian and Russian crises. The objective of full employment and price stability appears to be an illusory goal for many ...

The economic performance of many countries has deteriorated significantly during the last decade. The 1990s witnessed a global recession, the Mexican currency crisis and later, the Asian and Russian crises. The objective of full employment and price stability appears to be an illusory goal for many of the economies of the emerging global market system. This book offers new policy prescriptions from the post Keynesian perspective to achieve full employment without inflation. Paul Davidson and Jan Kregel - both world renowned economists - have selected papers that rigorously examine real world issues including: ª the challenge of attaining external balance with internal growth and employment ª speculation and volatile financial markets in the quest to achieve full employment without inflation ª the role of money in combating unemployment ª the role of institutions in stabilizing economies ª the advantages and disadvantages of the Euro and its implications in the world economy ª Keynes's plan to reform the international payments system in the post war era The book will be welcomed by economists, especially those interested in international economics, by politicians, policymakers and by all those concerned with global employment and inflation issues.