2011/02/14 by H. Uzawa · 1 citation
Economics, Econometrics and Finance · #Economic theories and models
paper · doi:10.1057/9780230226203.3097
openalex publication_date 2011/02/14 · openalex created_date 2022/05/12 · openalex updated_date 2025/11/06
The year 1939 was marked by the appearance of Harrod (1939) which gave a major impetus to the development of growth theory. Harrod was concerned with the problem of probable inconsistency between the conditions of full employment and a steady state of economic growth. The conditions under which full employment is secured are necessarily of a short-run nature, while a steady state of growth requires certain fundamental dynamic equations to be satisfied.