ABSTRACT
Economic growth is a complicated topic. It can be examined from many perspectives. The economic growth theory developed in this book addresses some important aspects of economic growth, but neglects many others. For instance, population, resources and environment are essential determinants of global economic growth. We almost omit them on purpose because a proper treatment of these factors would greatly lengthen the book. This book constructed (the key part of) a comprehensive growth theory. From the economic structural point of view, our theoretical framework includes some well established economic systems such as the Arrow-Debreu equilibrium model, the Solow-Swan model, the Uzawa two-sector model, the Kaldor-Pasinetti two-group model, the Arrow leaming-by-doing model, the Ricardian model by Pasinetti and Samuelson, as special cases. We can now treat different ideas in growth theory within a single theoretical framework. Indeed, the usefulness of our framework lies not only in that it unifies some theories, but mainly in that it can explain, in a compact way, many economic phenomena which cannot be explained by the traditional theories.
