Abstract
The Tinbergen-Solow-Swan growth model set forth nearly four decades ago was motivated by a striking stylized fact: if relatively short-run fluctuations are disregarded, the time series of measured aggregate output for the various industrial countries display a remarkably stable rate of growth. The theory produced exponential trends and, when augmented by a constant rate of technological improvement, exhibited paths of output that fitted the data extremely well.2
The impact of technological innovation upon the economic process consists of both an industrial rearrangement and … often of a structural change in society.
(Nicholas Georgescu-Roegen1)
We must face the fact that the form of the equations of a realistic model may … be … a function of the variables involved.
(Trygve Haavelmo)
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© 1992 Kumaraswamy Velupillai
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Day, R.H., Boserup, E. (1992). Chaos and Evolution in Economic Processes. In: Velupillai, K. (eds) Nonlinearities, Disequilibria and Simulation. Palgrave Macmillan, London. https://doi.org/10.1007/978-1-349-12227-1_14
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DOI: https://doi.org/10.1007/978-1-349-12227-1_14
Publisher Name: Palgrave Macmillan, London
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