New Growth Theory Unveils Path to Economic Prosperity and Innovation
The article "Modern Growth Theory" explores different models of economic growth. It discusses the long-term goals of growth and compares growth in different types of economies. The researchers look at how technical progress can drive growth, whether through accidental discoveries or intentional efforts. They also examine the role of infrastructure in promoting growth and the impact of research and uncertainty on economic development. The article addresses issues like the effects of scale and inequality on growth.