Optimum Economic Growth

  • Ajit K. Dasgupta
  • A. J. Hagger


In this chapter and the next we shall discuss the last of the four objectives of macro-economic policy with which the book is concerned. This is the objective of a high growth rate. As we shall see, the analysis of growth as an objective of economic policy involves problems which are both more fundamental and less familiar than those we have yet encountered, and for this reason the discussion of these chapters will differ from the discussion so far in several important respects. We shall start with a brief look at three of these differences.


Capital Stock Ethical Judgement Social Welfare Function Price Stability Final Demand 
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Reading List

  1. Chakravarty, S., ‘The Existence of an Optimum Savings Program’, Econometrica (Jan 1962).Google Scholar
  2. Chakravarty, S., ‘The Optimal Growth Path for Finite Planning Horizons’, in Tapas Majumdar (ed.), Growth and Choice ( Calcutta: Oxford University Press, 1969 ).Google Scholar
  3. Dasgupta, A., ‘A Note on Optimum Savings’, Econometrica (July 1964).Google Scholar
  4. Koopmans, T. C., ‘Objectives, Constraints and Outcomes in Optimal Growth Models’, Econometrica (Jan 1967).Google Scholar
  5. Leitmann, G., et al., Optimization Techniques ( New York: Academic Press, 1962 ).Google Scholar
  6. Pontryagin, L. S., et al., The Mathematical Theory of Optimal Processes ( New York and London: Interscience, 1962 ).Google Scholar
  7. Ramsey, F. P., ‘A Mathematical Theory of Saving’, Economic Journal (Dec 1928).Google Scholar
  8. Shell, K. (ed.), Essays on the Theory of Optimal Economic Growth ( Cambridge, Mass.: M.I.T. Press, 1967 ).Google Scholar
  9. Stevenson, C. L., Ethics and Language ( New Haven, Conn.: Yale University Press, 1944 ).Google Scholar
  10. Stone, R. (ed.), A Programme for Growth, 1–6 (London: Chapman & Hall, for the Department of Applied Economics, University of Cambridge, 1962–5).Google Scholar

Copyright information

© Ajit K. Dasgupta and A. J. Hagger 1971

Authors and Affiliations

  • Ajit K. Dasgupta
    • 1
  • A. J. Hagger
    • 2
  1. 1.Sir George Williams UniversityMontrealCanada
  2. 2.University of TasmaniaAustralia

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