Mathematical Theories of Economic Growth (Modern Revivals in Economics)

This comprehensive work explores theories of economic growth through analysis of mathematical models. The authors construct and discuss several economic growth models, beginning with a one-sector model and progressing to a two-sector and finally multi-sector models with many capital goods. The economic basis and implications of the mathematical models are stressed. The authors place particular emphasis on subjects such as induced technological change; theorems regarding factor-augmenting technical change; reswitching of techniques and paradoxical behaviour in capital theory; price-quantity duality relations; and optimal economic growth.