Trevor Swan and the Neoclassical Growth Model
AbstractThe independent contributions of Robert Solow and the Australian economist Trevor Swan in developing the neoclassical growth model are sometimes recognized by reference to the “Solow-Swan” model, but often reference is made only to the “Solow” model. Both Solow (1956) and Swan (1956) created a simple, convenient, and powerful apparatus for finding the steady-state growth path of a one-commodity world. This paper examines the differences and similarities between Swan's and Solow's analysis and diagrams, the reasons why Solow's version received more attention, and, drawing on Swan's unpublished papers, the place of Swan's growth model in his intellectual development.
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Bibliographic InfoArticle provided by Duke University Press in its journal History of Political Economy.
Volume (Year): 41 (2009)
Issue (Month): 5 (Supplement)
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Trevor Swan; neoclassical growth model; Robert Solow;
Other versions of this item:
- B2 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925
- B3 - Schools of Economic Thought and Methodology - - History of Economic Thought: Individuals
- B4 - Schools of Economic Thought and Methodology - - Economic Methodology
- O41 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - One, Two, and Multisector Growth Models
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Robert Dixon, 2003. "Trevor Swan on Equilibrium Growth with Technical Progress," The Economic Record, The Economic Society of Australia, vol. 79(247), pages 487-490, December.
- W. E. G. Salter, 1959. "THE PRODUCTION FUNCTION and THE DURABILITY OF CAPITAL1," The Economic Record, The Economic Society of Australia, vol. 35(70), pages 47-66, 04.
- T. W. Swan, 1956. "ECONOMIC GROWTH and CAPITAL ACCUMULATION," The Economic Record, The Economic Society of Australia, vol. 32(2), pages 334-361, November.
- Swan, T W, 1989. "The Principle of Effective Demand--A 'Real Life' Model," The Economic Record, The Economic Society of Australia, vol. 65(191), pages 378-98, December.
- T. W. Swan, 1950. "Progress Report On The Trade Cycle," The Economic Record, The Economic Society of Australia, vol. 26(51), pages 186-200, December.
- T. W. Swan, 1940. "Australian War Finance And Banking Policy," The Economic Record, The Economic Society of Australia, vol. 16(1), pages 50-67, 06.
- Rainer Klump & Peter McAdam & Alpo Willman, 2012.
"The Normalized Ces Production Function: Theory And Empirics,"
Journal of Economic Surveys,
Wiley Blackwell, vol. 26(5), pages 769-799, December.
- Rainer Klump & Peter McAdam & Alpo Willman, 2011. "The normalized CES production function - theory and empirics," Working Paper Series 1294, European Central Bank.
- Laurent Cellarier & Richard Day, 2011. "Structural instability and alternative development scenarios," Journal of Population Economics, Springer, vol. 24(3), pages 1165-1180, July.
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