Economic Growth

A Unified Approach

Olivier de La Grandville

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Paperback

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English

Cambridge University Press
01 December 2016

Economic growth; Development economics

In the second edition of this user-friendly book, Olivier de La Grandville provides a clear and original introduction to the theory of economic growth, its mechanisms and its challenges. The book has been fully updated to incorporate several important new results and proofs since the first edition. In addition to a progressive treatment of dynamic optimization, readers will find intuitive derivations of all central equations of the calculus of variations and of optimal control theory. It offers a new solution to the fundamental question: How much should a nation save and invest? La Grandville shows that the optimal savings rule he suggests not only corresponds to the maximization of future welfare flows for society, but also maximizes the value of society's activity, as well as the total remuneration of labour. The rule offers a fresh alternative to dire current predictions about an ever-increasing capital–output ratio and a decrease of the labour share in national income.

By: Olivier de La Grandville
Imprint: Cambridge University Press
Country of Publication: United Kingdom
Edition: 2nd Revised edition
Dimensions: Height: 248mm, Width: 173mm, Spine: 20mm
Weight: 900g
ISBN: 9781107535602
ISBN 10: 1107535603
Pages: 448
Publication Date: 01 December 2016
Audience: College/higher education , Primary
Format: Paperback
Publisher's Status: Active

Olivier de La Grandville is Senior Professor at Frankfurt University and Visiting Professor in the Management Science and Engineering Department at Stanford University. He was Professor of Economics at the University of Geneva from 1978 to 2007 and he is the author of seven books on topics ranging from microeconomics to macroeconomics and finance.