We provide an outline for viewing the middle-income trap through the lens of the Schumpeterian growth paradigm, which places the notion of creative destruction at the center of economic growth. Economic growth and development come from the interplay between changes in economic structure and...

"For United States annual data that include World War II, the estimated multiplier for temporary defense spending is 0.4–0.5 contemporaneously and 0.6-0.7 over 2 years. If the change in defense spending is "permanent" (gauged by Ramey's defense-news variable), the multipliers are higher by...