In his diagnosis Lipton occupies an unusual position. He is critical both of the Left and of the Right, of the classicists as well as of the Marxists. He is strongly critical of inequality though he maintains that growth is necessary for development, and development for the abolition of...

The purpose of this note is two‐fold. One is to pay a belated tribute to an old teacher of mine, Allyn Young. The other is a perhaps overly ambitious attempt to supplement the excellent review of growth theory of 1964, by arguing that there is a direct line between neo‐classical growth...

From time to time various economists have been attracted to the idea of a multiplier. Probably the most noted and most discussed has been the Keynesian Multiplier — the relation of an increase in investment to an increase in income. However, the term, or at least the concept, has been used...

Since the original Harrod‐Domar capital‐output models, and the highly influential work of Ragnar Nurkse, nearly all writers have found the effective constraints on growth to be on the side of supply. Thus stress has been placed on the “exchange gap” (shortage of imports) or the...

This paper attempts to clarify the issues involved in the recurrent debate on the justification for identifying growth with increased well‐being.