Abstract
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.
This chapter was originally published in The New Palgrave: A Dictionary of Economics, 1st edition, 1987. Edited by John Eatwell, Murray Milgate and Peter Newman
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Uzawa, H. (1987). Models of Growth. In: The New Palgrave Dictionary of Economics. Palgrave Macmillan, London. https://doi.org/10.1057/978-1-349-95121-5_860-1
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DOI: https://doi.org/10.1057/978-1-349-95121-5_860-1
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