Golden Rules of Economic Growth: Studies of Efficient and Optimal Investment

Golden Rules of Economic Growth: Studies of Efficient and Optimal Investment 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. Autor: Edmund S. Phelps Wydawnictwo: W. W. Norton & Company Rok wydania: 2024 Okładka: miękka Liczba stron: 208 Wymiary: 20.3 x 12.7 cm Język: angielski ISBN: 9780393330564