Advanced Search
MyIDEAS: Login

Endogenous Growth: Valuable Advance, Substantive Misnomer

Contents:

Author Info

  • William J. Baumol
Registered author(s):

    Abstract

    Endogenous growth theory has made many valuable contributions, perhaps most notably in providing the tools that permit more effective empirical investigation of the growth process. Its one shortcoming, which is stressed here, is its inability to live up to its name, for where it has failed is in describing the wheels, the balance springs, and the interactions of the various other critical components of the mechanism that drives the growth process. This is no criticism because that is not the legitimate task of macroeconomics, one of whose prime virtues lies in judicious suppression of such complicating details in order to permit a better grasp of the overall workings of the economic machine. Such details are the task of the microeconomist, whose work must supplement the macro insights so that, together, we will obtain a fuller understanding of the growth process and how it may be improved.

    Download Info

    If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
    File URL: http://hope.dukejournals.org/content/41/Suppl_1/304.full.pdf+html
    File Function: link to full text
    Download Restriction: Access to full text is restricted to subscribers.

    As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.

    Bibliographic Info

    Article provided by Duke University Press in its journal History of Political Economy.

    Volume (Year): 41 (2009)
    Issue (Month): 5 (Supplement)
    Pages: 304-314

    as in new window
    Handle: RePEc:hop:hopeec:v:41:y:2009:i:5:p:304-314

    Contact details of provider:
    Postal: Duke University Press 905 W. Main Street, Suite 18B Durham, NC 27701
    Phone: (919) 660-1800
    Fax: (919) 684-8974
    Web page: http://www.dukeupress.edu/Catalog/ViewProduct.php?viewby=journal&productid=45614

    Related research

    Keywords: endogenous growth;

    References

    No references listed on IDEAS
    You can help add them by filling out this form.

    Citations

    Lists

    This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

    Statistics

    Access and download statistics

    Corrections

    When requesting a correction, please mention this item's handle: RePEc:hop:hopeec:v:41:y:2009:i:5:p:304-314. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Center for the History of Political Economy Webmaster).

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If references are entirely missing, you can add them using this form.

    If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.