pt. I. Positive Growth Theory -- 1. The welfare of society and economic growth -- 2. The growth process -- 3. A production function of central importance -- 4. The CES production function as a general mean -- 5. Capital-labour substitution and economic growth (in collaboration with Robert M. Solow) -- 6. The long-term growth rate as a random variable, with an application to the US economy -- pt. II. Optimal Growth Theory -- 7. Optimal growth theory: an introduction to the calculus of variations -- 8. Other major tools for optimal growth theory: the Pontryagin maximum principle and the Dorfmanian -- 9. First applications to optimal growth -- 10. Optimal growth and the optimal savings rate -- pt. III. A Unified Approach -- 11. Preliminaries: interest rates and capital valuation -- 12. From arbitrage to equilibrium -- 13. Optimal savings: a general approach -- 14. Problems in growth: common traits between planned economies and poor countries
Summary
A fascinating introduction to the theory of economic growth that unifies the descriptive and normative strands of growth theory
Bibliography
Includes bibliographical references (pages 351-355) and index
