ABSTRACT
At first sight, the job of the growth economist seems rather straight forward. It looks at the data in order to have a sense of the phenomenon under scrutiny; it develops a theory about growth, poverty and perhaps also temporary deviations from the long-run trend; finally, it verifies that the theory matches the facts, and perhaps ventures into persuasive lines of reasoning concerning future scenarios. Economists have not always been unanimous about the purpose of their profession. Despite their differences, however, most have been united by a relative lack of interest in growth. Only relatively recently has economic growth been accepted as worthy of close and rigorous investigation. In particular, growth theorising has gradually turned away from examining the various categories of imperfections that prevent spontaneous interaction from achieving desirable goals. It also draws the ideal institutions that would allow the highest rate of technological growth and also the full conversion of the technological opportunities into successful entrepreneurial projects.
