The theoretical richness and variety of the new growth literature can make it difficult to capture the essence of … growth models. With this paper, we wish to provide one possible integrating view of the nature of the growth generating … processes. Revisiting the models that constitute the core of growth theory, we expose analytically the main mechanisms through …

utilization. First, it explains why utilization is a crucial variable for the various theories of growth and distribution … growth rate of demand that matters, not the level of demand.The paper makes three contributions. First, following up on …

Maddison's international panel data show that technically it was the faster growth rate of the US economy that led to …