This paper reformulates the neoclassical Solow-Swan model of economic growth in discrete time by introducing a generic population growth law that verifies the following properties: 1) population is strictly increasing and bounded 2) the rate of growth of population is decreasing to zero as time...

In standard economic growth theory it is assumed that labor force follows exponential growth, a not realistic assumption. As described in Maynard Smith (1974), the growth of natural populations is more accurately depicted by a logistic growth law. In this paper we analyze how the Ramsey growth...

This paper reformulates the neoclassical Solow-Swan model of economic growth in discrete time by introducing a generic population growth law that verifies the following properties: 1) population is strictly increasing and bounded 2) the rate of growth of population is decreasing to zero as time...

In standard economic growth theory it is assumed that labor force follows exponential growth, a not realistic assumption. As described in Maynard Smith (1974), the growth of natural populations is more accurately depicted by a logistic growth law. In this paper we analyze how the Ramsey growth...