This paper discovers that Frank Ramsey had turned his growth model upside down to obtain the opposite outcome from expected. Subsequently, this paper refines his upright model to derive all his dream results. When Ramsey's dream is correct, any other definition of growth must be rejected

This paper turns the static Engel Curve model of consumption into a dynamic interactive theory of growth. It explains why some countries remain trapped in the vicious circle of low income and low consumption, and works out how some others can move to higher income ground. Thrifty consumption and...

This paper shows that Lewis' development theory is nothing but Malthus' dismal science. It re-addresses the important aspect of population to economic development, but emphasizes the free will to fertility. Finally, this paper advocates laissez faire and local self-governments as foundation for...

This paper points out two mistakes of Tobin's q-model, and proves that his problem is nothing but a constraint: the distribution problem between physical and monetary assets. The addition of an objective function then solves Tobin's q-problem with explicit answers

This paper reveals that Malthus has confused the subsistence production function with his population theory. After correcting the confusion, this paper develops an interdependent model for subsistence and population. The generalized solution is much larger than the original Malthus one. The open...

This paper reviews the theories concerning economic growth. It proves that none of them is successful in explaining and offering solution to growth. While some offer dismal solution to preserve growth, most others rely on some magical tool for growth

Growth theory is supposed to enhance welfare of the population by raising their per capita output, income and consumption. But, if for that purpose population is reduced, such theory is anti-growth. This paper proves that Solow's growth theory is anti-growth, and that his use of population...