Evsey Domar put forward in a couple of articles in the 1940s a "guaranteed income growth proposal." For the first time in macroeconomics, economic policy was supposed to work merely through the impact of its announcement on expectations. He claimed that optimistic expectations of income growth...

Lewis argued that his 1954 model of economic development in a dual economy was based on the classical framework originally advanced by Smith, Malthus, Ricardo and Marx. The present paper provides a detailed investigation of how Lewis adopted and adapted classical concepts such as...

The origins of "capital fundamentalism' - the notion that physical capital accumulation is the primary determinant of economic growth - have been often ascribed to H arrod's and Domar's proposition that the rate of growth is the product of the saving rate and of the output-capital ratio. I t is...

The paper investigates Evsey's Domar's introduction of the rate of growth as a variable in economics in the 1940s and 1950s . Domar investigated the nature of what he called the "moving equilibrium" of ec onomic processes with infinite duration. Reactions to Domar' s approach at the time brought...

Knut Wicksell's concept of the natural (or neutral) rate of interest, introduced between the end of the 19th and beginning of the 20th centuries, has played an important role in modern monetary macroeconomics, especially after the development of inflation targeting policy in the 1990s. More...

In the 1960s and 1970s Harrod shifted the emphasis of his research in economic dynamics from the study of business cycles (instability principle) to the investigation of the growth process. As part of that, he restated his concept of the natural growth rate as an optimum welfare rate. The...