Solow, Robert M. - In: Journal of Economic Perspectives 8 (1994) 1, pp. 45-54
This essay relates recent developments in growth theory to problems and ideas that first engaged R. F. Harrod, E. Domar, and their neoclassical successors. The body of 'new growth theory' began by finding special ways to assume that there are constant returns to capital. It is shown that this is...