Unified Growth Theory

	Unified Growth Theory Unified growth theory was developed in light of the alleged failure of endogenous growth theory to capture key empirical regularities in the growth processes and their contribution to the momentous rise in inequality across nations in the past two centuries. Unified growth theory suggests that during most of human existence, technological progress was offset by population growth, and living standards were near subsistence across time and space. The testable predictions of the theory and its underlying mechanisms have been confirmed in empirical and quantitative research in the past decade, and have inspired intensive exploration of the impact of historical and pre-historical forces on comparative economic development and the disparity in the wealth of nations. (d) the theory as a whole was explored quantitatively. Traits that were complementary to the technological environment generated higher level of income, and therefore higher reproductive success. Testable predictions of this ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu]
	Endogenous Growth Theory Endogenous growth theory holds that economic growth is primarily the result of endogenous and not external forces. Endogenous growth theory holds that investment in human capital, innovation, and knowledge are significant contributors to economic growth. The theory also focuses on positive externalities and spillover effects of a knowledge-based economy which will lead to economic development. The endogenous growth theory primarily holds that the long run growth rate of an economy depends on policy measures. For example, subsidies for research and development or education increase the growth rate in some endogenous growth models by increasing the incentive for innovation. Models In the mid-1980s, a group of growth theorists became increasingly dissatisfied with common accounts of exogenous factors determining long-run growth, such as the Solow–Swan model. They favored a model that replaced the exogenous growth variable (unexplained technical progress) with a model in whic ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu]
	Journal Of European Economic History A journal, from the Old French ''journal'' (meaning "daily"), may refer to: Bullet journal, a method of personal organization Diary, a record of personal secretive thoughts and as open book to personal therapy or used to feel connected to oneself. A record of what happened over the course of a day or other period Daybook, also known as a general journal, a daily record of financial transactions Logbook, a record of events important to the operation of a vehicle, facility, or otherwise Transaction log, a chronological record of data processing Travel journal, a record of the traveller's experience during the course of their journey In publishing, ''journal'' can refer to various periodicals or serials: Academic journal, an academic or scholarly periodical Scientific journal, an academic journal focusing on science Medical journal, an academic journal focusing on medicine Law review, a professional journal focusing on legal interpretation Magazine, non-academic or scho ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu]
	Testable Testability is a primary aspect of science and the scientific method. There are two components to testability: #Falsifiability or defeasibility, which means that counterexamples to the hypothesis are logically possible. #The practical feasibility of observing a reproducible series of such counterexamples if they do exist. In short, a hypothesis is testable if there is a possibility of deciding whether it is true or false based on experimentation by anyone. This allows anyone to decide whether a theory can be supported or refuted by data. However, the interpretation of experimental data may be also inconclusive or uncertain. Karl Popper introduced the concept that scientific knowledge had the property of falsifiability as published in '' The Logic of Scientific Discovery''.Karl Popper "The Logic of Scientific Discovery", 1934 (as ''Logik der Forschung'', English translation 1959), ISBN 0415278449 and 2002 ISBN 9780415278447, 0415278449 See also * Confirmability * Controlla ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu]
picture info	Malthusianism Malthusianism is a theory that population growth is potentially exponential, according to the Malthusian growth model, while the growth of the food supply or other resources is linear, which eventually reduces living standards to the point of triggering a population decline. This event, called a Malthusian catastrophe (also known as a Malthusian trap, population trap, Malthusian check, Malthusian snatch, Malthusian crisis, Point of Crisis, or Malthusian crunch) has been predicted to occur if population growth outpaces agricultural production, thereby causing famine or war. According to this theory, poverty and inequality will increase as the price of assets and scarce commodities goes up due to fierce competition for these dwindling resources. This increased level of poverty eventually causes depopulation by decreasing birth rates. If asset prices keep increasing, social unrest would occur, which would likely cause a major war, revolution, or a famine. Societal collapse is an ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu]
	Oded Galor Oded Galor (; born 1953) is an Israeli-American economist who is currently Herbert H. Goldberger Professor of Economics at Brown University. He is the founder of unified growth theory. Galor has contributed to the understanding of development over the entire course of human history and prehistory, and the role of deep-rooted factors in the transition from stagnation to growth and in the emergence of global inequality. He also pioneered the exploration of the impact of human evolution, population diversity, and inequality on the process of development over most of human existence. Career Galor completed his BA and MA at the Hebrew University of Jerusalem and his PhD at Columbia University. He served as a Chilewich Professor of Economics at the Hebrew University, and he is currently the Herbert H. Goldberger Professor of Economics at Brown University. He was awarded Doctor Honoris Causa from Poznań University of Economics & Business and from UCLouvain. He is an Elected Foreign M ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu]