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economic growth |
Also found in: Encyclopedia, Wikipedia, Hutchinson | 0.06 sec. |
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Economic growth An increase in the nation's capacity to produce goods and services. Usually refers to real GDP growth.
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But UCLA economist Benjamin Klein finds their work "unrealistic," and Paul Romer, a Stanford economist whose path-breaking development of new growth theory is the focus of much of Boldrin and Levine's critique, considers their logic flawed and their assumptions implausible. Growth theory deals with the economic development of nations, with special focus on the drivers of growth. INSIGHTS FROM New Growth Theory reframe many environmental problems and suggest some surprising solutions. |
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