Synopses & Reviews
The historical record concerning industrialization since 1770 is consistent with the classical view of economic growth, but not with the currently accepted neo-classical growth theory. Flaws in the logic and empirical short-comings of the neo-classical theory suggest that it should be rejected. Specifically, ideas that originate in static concepts cannot be applied to growth, a dynamic process. Nineteenth-century industrialization, the world wars and the Depression, the post-war boom, and the more recent slowdown in growth are discussed.
This book demonstrates the historical relationship between growth and mechanization since the beginning of the Industrial Revolution in light of classical and neo-classical growth theory.
Includes bibliographical references (p. -255) and index.
Table of Contents
Economic Growth: The Modern Source of Wealth
The Beginnings of Industrial Revolution: Economic Growth before 1830
The Industrial Revolution Gathers Steam: 1830-1870
The United States Overtakes Great Britain: 1870-1913
International Expansion of the Industrial Revolution in the Nineteenth Century
Successful Industrialization in Some Parts of the World: 1870-1913
Gloom and Doom: War and Depression, 1914-1945
The Great Boom: 1950-1973
A Period of Malaise: 1973 to the Present
Growth Policies in the Twentieth Century: Argentina, Australia, Brazil, India, and Japan