Golden Rules of Economic Growth

By Edmund, S. Phelps

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.

• Format: Paperback
• Language: English
• ISBN: 0393330567
• ISBN13: 9780393330564
• Release Date: June 1966
• Publisher: W. W. Norton & Company
• Length: 208 Pages
• Weight: 0.59 lbs.
• Dimensions: 0.5" x 5.5" x 8.5"