An Analysis of this issue of the Development and Efficiency in the Economy

An Analysis of this issue of the Development and Efficiency in the Economy

Few issues are as important to a region as the long-term development and productivity

trends facing their market. The relative slow-down in the expansion rates of

the United States market since 1973 has concerned economists and politicians

alike. Many possible causes have already been help with, though none is fully

satisfactory.

Before talking about the theoretical types of growth it

would be useful to study the info on growth that's currently available.

As Nicholas Kaldor, in his influential document on growth ("Capital Accumulation

and Economic Growth"; 1961) explained , a theorist ought to start out with the summary

of the reality that are immediately obtainable, concentrating mostly on broad

tendencies or "stylized facts." Theories may then be constructed to explain

the facts. Listed here are the stylized facts as stated by Kaldor:

1. Output per worker shows continuous progress.

2. Capital per worker shows continuous progress.

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