Skip to main content
Top

2017 | OriginalPaper | Chapter

7. Growth with Abundant Resources

Activate our intelligent search to find suitable subject content or patents.

search-config
loading …

Abstract

An examination of the different factors that can contribute to growth: increased capital, abundant resource supplies, a larger labor force, and innovation, though the effect of different types of innovation will depend on the ease with which resource supplies can be expanded. A distinction is made between the things that physically have to happen for growth to occur and the social arrangements that make those physical outcomes more likely. The question of convergence between rich countries and poor is considered by means of the diminishing marginal product of capital. The end of the chapter introduces “conditional equivalence,” describing what has to be true for the conventional model and this book’s model to provide the same view of growth. An appendix goes through the algebra of the steady state.

Dont have a licence yet? Then find out more about our products and how to get one now:

Springer Professional "Wirtschaft+Technik"

Online-Abonnement

Mit Springer Professional "Wirtschaft+Technik" erhalten Sie Zugriff auf:

  • über 102.000 Bücher
  • über 537 Zeitschriften

aus folgenden Fachgebieten:

  • Automobil + Motoren
  • Bauwesen + Immobilien
  • Business IT + Informatik
  • Elektrotechnik + Elektronik
  • Energie + Nachhaltigkeit
  • Finance + Banking
  • Management + Führung
  • Marketing + Vertrieb
  • Maschinenbau + Werkstoffe
  • Versicherung + Risiko

Jetzt Wissensvorsprung sichern!

Springer Professional "Wirtschaft"

Online-Abonnement

Mit Springer Professional "Wirtschaft" erhalten Sie Zugriff auf:

  • über 67.000 Bücher
  • über 340 Zeitschriften

aus folgenden Fachgebieten:

  • Bauwesen + Immobilien
  • Business IT + Informatik
  • Finance + Banking
  • Management + Führung
  • Marketing + Vertrieb
  • Versicherung + Risiko




Jetzt Wissensvorsprung sichern!

Appendix
Available only for authorised users
Footnotes
1
There is an entire “degrowth” movement devoted to the exploration of this idea; for example, see [8].
 
2
This case is made extensively in [3].
 
3
Bowles [2] provides an interesting exploration of the malleability of preferences and the effects of promoting one kind rather than another.
 
Literature
1.
go back to reference Acemoglu, D., Johnson, S., & Robinson, J. A. (2001). The colonial origins of comparative development: An empirical investigation. The American Economic Review, 91(5), 1369–1401. Acemoglu, D., Johnson, S., & Robinson, J. A. (2001). The colonial origins of comparative development: An empirical investigation. The American Economic Review, 91(5), 1369–1401.
2.
go back to reference Bowles, S. (1998). Endogenous preferences: The cultural consequences of markets and other economic institutions. Journal of Economic Literature, 36(1), 75–111. Bowles, S. (1998). Endogenous preferences: The cultural consequences of markets and other economic institutions. Journal of Economic Literature, 36(1), 75–111.
3.
go back to reference Friedman, B. M. (2006). The moral consequences of economic growth. New York: Vintage. Friedman, B. M. (2006). The moral consequences of economic growth. New York: Vintage.
Metadata
Title
Growth with Abundant Resources
Author
Karl Seeley
Copyright Year
2017
DOI
https://doi.org/10.1007/978-3-319-51757-5_7