This paper is an attempt to bring the two sides together. It will demonstrate, on the, one hand, - that internal and external liberalisation of trade in goods and services does substantially raise potential output and its growth path and - that it, therefore, pays to anticipate these gains in...

Openness vis-i-vis the world and an improved incentive system at home are the key requirements for a lasting re-acceleration of economic growth in Europe, the U.S. and indeed most parts of the world. More specifically, the policy-oriented message to be propounded in this paper is essentially...

After two and a half decades of prosperous postwar development, western industrialised countries recently experienced a slowdown of economic growth and productivity advance together with an increase in the rates of inflation and unemployment. The deep recession of 1974/75 has uncovered...

It is the purpose of this paper to correct some of these shortcomings and to lengthen the time horizon in the public debate about exchange rates, notably about the dollar/DM rate. Long-term interest rates, most of all the real rate of interest and the profitability of investment, will be brought...

This paper aims to throw some light on problems of growth and employment that appear to have been somewhat neglected in the recent development of mainstream economics. As the subtitle suggests we shall make use of a framework of thought that might be called Schumpeterian, in honor of Joseph...