search query: @author Ayres, R. / total: 6
reference: 4 / 6
| Author: | Ayres, R. |
| Title: | Towards a disequilibrium theory of endogenous economic growth |
| Journal: | Environmental and Resource Economics
1998 : APR/JUN, VOL. 11:3-4, p. 289-300 |
| Index terms: | ECONOMIC GROWTH THEORIES ENVIRONMENT |
| Language: | eng |
| Abstract: | This paper discusses the need for a new approach to economic growth theory. The standard theory of growth-in- equilibrium driven by exogenous, uncaused, productivity gains has an implication that is both unjustified and perverse from a policy perspective: that government intervention of any kind can only introduce constraints and reduce option space, thus decreasing potential growth. It is argued that growth theory should acknowledge the importance of natural resources. |
SCIMA