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Some Observations on the Engine and Fuel of Economic Growth

  • G. R. Feiwel

Abstract

The economic merit of a system depends on the valuation scale and the time-frame adopted. An economy’s resources could be used for various ends, for good or evil, fully or partly, more or less efficiently at a point of time or in the long run, with greater or smaller capacity to create new and destroy the old, with varied arrangements for resource allocation, with varied institutional and ideological adjustments to change, and with divergent consequences for the quality of life. The kind of society we want and the ends of economic activity we must choose ourselves; our function as economists is to enlighten our fellow citizens about what can and cannot be done. Regretfully in matters of economic policy the don’ts are often much clearer than the do’s.

Keywords

Economic Growth Monetary Policy Productivity Growth Supply Side Capital Formation 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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© George R. Feiwel 1985

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  • G. R. Feiwel

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