R. F. Harrod: Methodology and Dynamic Growth
Sir Roy Harrod is, without much dispute, the first economist to consider the analysis of economic growth as requiring dynamic concepts of a very unique nature. The Harrod conception of dynamism was initially formulated in a 1934 paper, ‘The Expansion of Credit in an Advancing Economy’, where Harrod states that ‘It is an enquiry into the relation between the rates of increase in a regularly advancing society…’.1
KeywordsFiscal Policy Real Wage Dynamic Theory Dynamic Growth Technical Progress
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- 1.See Joan Robinson, ‘Harrod after Twenty-one Years’, Economic Journal, Lxxx (Sep. 1970), for an analysis of the problem of the level of prices and a possible solution. Harrod’s comment to this paper is particularly revealing.Google Scholar