Growth Theory and Industrial Revolutions in Britain and America
AbstractLong run economic growth has again become a major focus of economic theory. A perception of technological change as an economic process with externalities has motivated the development of aggregate models that generate different steady state growth paths. Economic history has also long been interested in long-run economic growth. This paper engages in a dialog between growth theory and the historical literature on the industrial revolution in Britain and America’s surge to international economic leadership in the late nineteenth century. It concludes that economists’ recent thinking about the microeconomics of technological change has provided fruitful material for the economic historian of growth. Unfortunately, the models of endogenous growth, on the other hand, present too aggregated a view of the economy to prove helpful when confronted with the details of economic history.
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Bibliographic InfoPaper provided by University of Copenhagen. Department of Economics in its series Discussion Papers with number 03-32.
Length: 30 pages
Date of creation: Jun 2003
Date of revision:
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More information through EDIRC
industrial revolution; growth; late nineteenth century America;
Other versions of this item:
- Knick Harley, 2003. "Growth theory and industrial revolutions in Britain and America," Canadian Journal of Economics, Canadian Economics Association, vol. 36(4), pages 809-831, November.
- N0 - Economic History - - General
- N1 - Economic History - - Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations
This paper has been announced in the following NEP Reports:
- NEP-DEV-2003-07-04 (Development)
- NEP-EEC-2003-07-04 (European Economics)
- NEP-HPE-2003-07-04 (History & Philosophy of Economics)
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.:
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