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Titlebook: Economic Growth in Theory and Practice; R. M. Sundrum Book 1990 Palgrave Macmillan, a division of Macmillan Publishers Limited 1990 econom

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https://doi.org/10.1007/978-1-349-23181-2rce of diminishing returns in that sector that they predicted a steady decline of the rate of growth, due to the steady rise of the pressure of a growing population on a limited area of land. Later, in the early post-war years, neo-classical economists produced an alternative theory, referring mainl
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Jeremy Rayner,Susan Falls,Taylor C. Nelmsn terms of the stocks of various factors of production — namely, land, labour, capital and the state of technology, and their variation over time. These are the theories developed by classical and neo-classical writers on the subject. Hence, these factors may be described as the classical determinan
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David P. Evans MSc (Biomechanics), MD economy have been derived from the characteristics of particular sectors. Thus, the classical theory was based on the agricultural economy, and the neo-classical theory on the industrial economy. The Lewis model distinguishes two sectors, but the main concern is with the growth of the modern or ind
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https://doi.org/10.1007/978-1-4615-1843-3which the centre of gravity of the economy shifts from agriculture to industry. The process is also marked by a significant change in the techniques by which these goods are produced. In particular, these goods come to be produced by techniques which make greater use of fixed capital in the form of
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https://doi.org/10.1057/9780230378940 generally adopted in national accounts, all production other than those which clearly belong to the agricultural (or primary) and industrial sectors is put into the service sector. When goods are put into the service sector on the negative criterion that they do not belong to the commodity producin
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Interpretationen und komparative Analysen, related to the national income of countries. As in the case of investment, there are at least three forms in which this relationship can be studied; (a) the relationship between the . of government expenditures and the . of income; (b) the relationship between the . of government expenditures and t
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