Growth Theory

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August 31, 2024 4 min read Definitions
Turnpike Theorem: Optimal Growth Paths in Economics
Economics Growth Theory Optimal Growth Welfare Economics Economic Theory Growth Path Dynamic Economics
The Turnpike Theorem in growth theory characterizes the optimal, or welfare-maximizing, growth path for an economy, drawing analogies from historic 'turnpikes' as the fastest routes to destinations.
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August 24, 2024 4 min read Definitions
Exogenous Growth: Definition, Economic Theory, and Comparison with Endogenous Growth
Economics Growth Theory Exogenous Growth Neoclassical Economics Endogenous Growth Economic Theory Technological Progress
A comprehensive exploration of exogenous growth, a key tenet of neoclassical economic theory emphasizing growth driven by technological progress independent of economic forces, and its comparison with endogenous growth theory.
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