...William J. Baumol 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...

...Lauchlin Currie; Roger Sandilands Implications of an Endogenous Theory of Growth in Allyn Young’s Macroeconomic Concept of Increasing Returns Lauchlin Currie Edited by Roger Sandilands 1. Introduction The predominant theory of growth that prevailed until recently sepa- rately...

... University Press. Tucker , Josiah . 1974 . Four Tracts on Political and Commercial Subjects , 3d ed. Clifton: Kelley. Young , Allyn . 1928 . Increasing Returns and Economic Progress Economic Journal 38 . 152 : 527 -42. The Endogenous Nature of Technological Progress and Transfer...

...Salim Rashid srashid@illinois.edu Endogenous Growth in Historical Perspective: From Adam Smith to Paul Romer . By Ramesh Chandra . Cham : Palgrave Macmillan , 2022 . xi; 331 pp. $109.00 . Copyright 2023 by Duke University Press 2023 The book under review examines...

... of macroeconomic increasing returns reveals the limitations of models that assume an aggregate production function exhibiting constant returns to scale while “augmented” by exogenous technical progress. His endogenously self-sustaining growth paradigm is also shown to differ in important respects (including in its...

...Sabiou M. Inoua; Vernon L. Smith Neoclassical price theory was founded on axioms of price-taking behavior and the law of one price in a market, axioms inconsistent with a theory of endogenous price discovery in markets. Classical economists including Adam Smith narrated a price discovery process...

... from growth theory to development economics. In the last two decades, augmented Solow models, endogenous growth models, and exercises in development accounting have proliferated. Nevertheless, it is argued, the formalization of development economics and the post-1980 dominance of neoclassical...

...Matthieu Ballandonne Kenneth J. Arrow's 1962 article “The Economic Implications of Learning by Doing” is considered a seminal contribution to endogenous growth theory. However, no history of its origins has been written yet. We aim to fill this gap by studying the genesis of Arrow's article...

... about what constitutes good governance; it became particularly salient when Soviet scientists were facing infrastructural projects in the global South. Systems analysis, in this way, constituted an important intellectual resource for endogenous liberalization of the authoritarian regime. Systems...

... is marked by a varied landscape of modern and postmodern models. Thus one begins with Frisch (together with the other founders of the Econometric Society) and with Harrod, to end with real business cycles and endogenous mod- els of various types producing growth or fl uctuations, and often both...

...Mauro Boianovsky; Kevin D. Hoover Copyright 2009 by Duke University Press 2009 This content is made freely available by the publisher. It may not be redistributed or altered. All rights reserved. Aghion, Philippe, and Peter Howitt. 1998 . Endogenous Growth Theory . Cambridge: MIT...

... 45.1 : 173 -86. Cottrell, A. forthcoming. Monetary Endogeneity and the Quantity Theory: The Case of Commodity Money. HOPE . Frenkel, J., and H. G. Johnson. 1976 . The Monetary Approach to the Balance of Payments: Essential Concepts and Historical Origins. In The Monetary Approach...

... in the cause of Islam,” it is intended to have a broader appeal. Critical of the ultra- individualism and excessive materialism of neoclassical economics, Choudhury 700 Book Reviews argues for the endogenization of moral-ethical values in contemporary capitalis- tic socioeconomic systems. But unlike...

... have temporary real effects. Other Trautwein / Hayek’s Wicksellian Dichotomy 29 new-classical approaches have integrated endogenous money, but only as a passive part of the propagation mechanism in real business cycles (for example, Kmg and Plosser 1984). Hayek, on the other...

... reswitchingkapital reversal problem and the classical wage-rate of profits problem. Both problems stem from an incongruity between the endogenous nature of capital and the exogenous basis of the price conceptions and underlying visions of neoclassical and classical theories. The article is organized...

... in having closed the Keynesian model, thereby for- mulating a truly endogenous cycle model (Samuelson 2002). The story is richer, however, than described here, and actually runs along rather different lines. I agree with Heertje and Heemeijer that Har- rod supplied the rst clear-cut and explicit...

... of the interaction of savings and investment. The banana parable was assumably deliberately constructed in order to make an extreme and shocking result possible. It was not intended as a precise summary of Keynes’ views on endogenous processes. An example which does not depend on the marginal propensity...

..., a dynamic theory should include an intertemporal relation. In addition Hamilton’s formalism shows the invariants of the system. Tinbergen defined endogenous motion as the motion due to the system itself, that is, motion by invariance of the system. Discussion below considers only...

... is endogenously determined in the neoclassical model. Finally, we modify Bauer’s model to accommodate the role of colonial markets attributed to Rosa Luxemburg. This alternative avoids overdetermination by opening the economy, which is precisely the recourse Bauer hoped to avoid. Bauer constructed...

..., but the ultimate determinant of the price level for both is the cost of production of gold, and the long-run money supply reacts endogenously to it. 546 History of Political Economy 26:4 (1994) of suppressing the small note issue in 1826. As he had for years, Mill noted that the elimination of small...