GROWTH THEORY AS AN UNWANTED CHILD OF MACRO-DYNAMICS
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Abstract
ABSTRACT
The story this paper tells, attempts to explain 1) how Neo-Classical growth theory happened to be simultaneously born by the hands of Solow (1956) and Swan (1956); and 2) how it carried its signature characteristics, i.e. the exogeneity of the long run growth driver. Both issues are ascribed to the heritage of unsolved problems from Macroeconomics, in its most mature version a non-linear theory of fluctuations.
LA TEORÍA DEL CRECIMIENTO COMO UN VÁSTAGO NO DESEADO DE LA MACRODINÁMICA
RESUMEN
Este artículo narra e intenta explicar: 1) cómo la teoría neoclásica del crecimiento surgió de forma simultánea de las manos de Solow (1956) y de Swan (1956) y 2) cómo llevó consigo sus características distintivas, i.e., la exogeneidad de su fuerza motriz de largo plazo. Ambas cuestiones se atribuyen a la herencia de problemas no resueltos de la macroeconomía en su versión más madura, una teoría no lineal de las fluctuaciones cíclicas.
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