MAJOR ISSUES IN MACROECONOMICS ECONOMIC GROWTH
MAJOR ISSUES IN MACROECONOMICS ECONOMIC GROWTH
: Another important issue in microeconomics is to explain what dtermines economics growth in a country ,theory of economics growth or what is simply called growth economics which has been recently developed a good deal is an important branch of macroeconomic ,the problms of growth is a long -run problem and keynes did not deal with it,in fact,keynes is said to hav eonce remarked that 'in the long run we are all dead" ,from this remark of keynes it should not be understand that he thought long run to be quite unimtions in the level of economics activity,it was harrod' and domar4 who exteded the keynesian analysis to the long-run problem of growth with stabilty ,they laid stress on the dual role of investment-one of income generating which keynes considered and hte second of capacity increasing which keyness ignored cause of his preoccupation with the short run ,in view of the fact that an investment adds to the productive capacity since the above growth theories apply particularly to the present -day developed economies ,special theories which explain the causes of underdevelopment and poverty in less developed countires and which also suggest strategies for initiating and accelerating growth in then have also been propounded ,these special growth theories relating to less developed countries are generally known as ECONOMICS OF DEVELOPMENT.we shall discuss some theories of development such as balanced growth theory of nurkse,unbalanced growth theory of hirsehman,theory of 'economics development with unlimited supplies of labour' of arthur . have other more info info education about micro economics
by promoted santosh
: Another important issue in microeconomics is to explain what dtermines economics growth in a country ,theory of economics growth or what is simply called growth economics which has been recently developed a good deal is an important branch of macroeconomic ,the problms of growth is a long -run problem and keynes did not deal with it,in fact,keynes is said to hav eonce remarked that 'in the long run we are all dead" ,from this remark of keynes it should not be understand that he thought long run to be quite unimtions in the level of economics activity
by promoted santosh
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