Foundations of Economic Development
Arvid Aulin
Broschiertes Buch

Foundations of Economic Development

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DYNAMIC ECONOMICS with increasing returns is extended tocope with economic growth, the business cycles and theirregular swings in the long-term development as differentaspects of the same dynamical system, the economic system"as a whole".HUMAN CAPITAL emerges as the seminal concept: economicgrowth is in this dynamics causally reduced to the growth ofhuman capital and thus to the growth of exact scientificknowledge. An analysis of this knowledge shows that qualityeducation in hard sciences must be a prime target of futureeconomic policies.A CAUSAL STRUCTURE, new in economics, underlies the exte...