The Divergent Dynamics of Economic Growth (Paperback)

Richard H. Day

ISBN 10: 0521681057 / ISBN 13: 9780521681056

Published by Cambridge University Press, Cambridge, 2007

About this Item

Paperback. This book explains how changing technology and economizing behaviour induce vast changes in productivity, resource allocation, labour utilization, and patterns of living. Economic growth is seen as a process by which businesses, regimes, countries, and the whole world pass through distinct epochs, each one emerging from its predecessor, each one creating the conditions for its successor. Viewed from a long-run perspective, growth must be characterized as an explosive process, marked by turbulent transitions in social and political life as societies adapt to new opportunities, the demise of old ways of living, and to the vast increase and redistribution of human populations. The book is based on a synthesis of classical economics and contemporary concepts of adaptation and economic evolution. Although it is based on analytical methods, the text has been stripped of all equations and with few exceptions is devoid of technical jargon. This book explains how changing technology and economizing behaviour induce vast changes in productivity, resource allocation, labor utilization, and patterns of living. The book is based on a synthesis of classical economics and contemporary concepts of adaptation and economic evolution. Shipping may be from our Sydney, NSW warehouse or from our UK or US warehouse, depending on stock availability.

Seller Inventory # 9780521681056

Bibliographic Details

• Title: The Divergent Dynamics of Economic Growth (Paperback)
• Publisher: Cambridge University Press, Cambridge
• Publication Date: 2007
• Language: English
• ISBN 10: 0521681057
• ISBN 13: 9780521681056
• Binding: Paperback
• Edition: 1st Edition
• Condition: new

About this title

Synopsis

This volume explains how changing technology and economizing behavior induce vast changes in productivity, resource allocation, labor utilization, and patterns of living. Basing his work on a new and original synthesis of classical economics and contemporary concepts of adaptation and economic evolution, Richard Day asserts that economic growth, viewed from a long-term perspective, must be characterized as an explosive process, interpreted by turbulent transitions in social and political life as societies adapt to new life styles and opportunities and to the vast increase and redistribution of human populations.

Book Description

The essays collected in this volume all deal one way or another with four intertwining themes: (1) new technology and economizing induce vast changes in productivity, resource allocation, and labor utilization; (ii) these changes underlie the global explosion of human numbers, resource utilization, and environmental transformation; (iii) they cause drastic reallocations of people among industries, rural areas, and cities; (iv) to understand all this, scientific economic theory must be based on principles of economic behavior out-of-equilibrium, especially on concepts of adaptation and evolution.