School of Economics | The Neo-Classical Growth Models:
archive,tag,tag-the-neo-classical-growth-models,tag-709,ajax_fade,page_not_loaded,,qode-title-hidden,qode_grid_1300,qode-content-sidebar-responsive,qode-theme-ver-11.1,qode-theme-bridge,wpb-js-composer js-comp-ver-5.1.1,vc_responsive

The Neo-Classical Growth Models: By combining variable factor proportions and using flexible factors R. M. Solow overcame the Harrod-Domar problem and showed that the growth path of output was not inherently unstable. If the labour force grew faster than the stock of capital, the wage rate...