THEORY OF ECONOMIC GROWTH: FROM CLASSICAL MODELS TO MODERN APPROACHES
Ключевые слова:
Economic growth, Classical models, Modern approaches, Solow model, Endogenous growth, Technological progress, Human capital, Innovation, Policy, Globalization, Economic developmentАннотация
The theory of economic growth has evolved significantly over time, from the classical models of the 18th and 19th centuries to the more contemporary approaches of the 20th and 21st centuries. Classical growth models, such as those proposed by Adam Smith, David Ricardo, and Thomas Malthus, emphasized the role of labor, capital accumulation, and land in shaping long-term growth patterns. In contrast, modern growth theories, including those of Solow, Romer, and endogenous growth theorists, focus on the importance of technological progress, human capital, and innovation. This article provides a comprehensive overview of the key stages in the development of economic growth theories, examining the transition from classical frameworks to the more dynamic, technology-driven models of today. Special attention is given to the impact of policy, institutions, and globalization in modern growth theory, and how these factors have reshaped our understanding of economic development. By tracing the evolution of thought in this field, the article highlights the ongoing relevance of both classical and modern approaches in explaining the complexities of economic growth in the 21st century.
Библиографические ссылки
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