The historical growth record is reviewed and growth is shown to have resulted in divergence between the incomes of fast growing rich economies and slower growing poorer economies. Supply-led, neoclassical growth is then contrasted with demand-led, Keynesian growth. Three Keynesian growth...

This paper contemplates the robustness of Thirlwall’s Law, a parsimonious expression that relates long run equilibrium growth in any one region to the product of world income growth and the ratio of the income elasticities of demand for exports and imports. Various extensions of the...

This paper discusses the treatment of growth as a path-dependent process in Post-Keynesian macrodynamics. A synthetic Post-Keynesian growth model is used to demonstrate the ways in which growth can be described as path dependent in the Post-Keynesian tradition. Recent developments in...