Economic Growth

How it works and how it transformed the world

Edward A. Hudson

How does economic growth work? Beginning with the history of leading countries over the past 2000 years, Economic Growth finds which countries have achieved sustained growth and how they did it. The effects of growth are examined on a human scale. The benefits of growth are enormous in terms of life, health, education, leisure and opportunity, while the downsides can be managed by appropriate policies. Economic Growth develops a new theory of growth. This new theory is based on careful analysis of actual growth; it covers the causes and mechanisms as well as the results of growth. This new theory extends conventional theory by operating at the industry level and by placing demand considerations at the forefront of growth. Demand growth – based on product innovation, marketing, credit and the consumer society – drives the economy forward while supply growth – based on investment and process innovation – sustains the growth in spending and incomes. Growth is not automatic but, in the right conditions, demand and supply expansion work together to generate sustained growth. Economic Growth offers a new view of growth, unique in its combination of historical depth, intellectual clarity and practical relevance. Its original insights will interest academic and professional economists, while its comprehensive treatment and lucid explanations make it an excellent guidebook for anyone interested in economic growth.

Generational Poverty

An Economic Look at the Culture of the Poor

Adam D. Vass Gal, Belmont University

Are the impoverished victims of circumstance or are they contributing to their situations through their own actions and principles? This perplexing question does not have a simple answer. "Generational Poverty: An Economic Look at the Culture of the Poor" examines both sides of the coin. Written by an economist, the book provides a unique perspective into the study of this emotionally-charged issue. It shows that economic analysis can shed light on some of the roots of persistent poverty and may point to its potential solution. Generational Poverty covers the author’s eye-opening experiences with a young man named Jermaine and his family, initiated through the Big Brothers Big Sisters (BBBS) program. As someone who cares for Jermaine and his family, it was nothing short of a surprise to see first-hand some of the obstacles Jermaine’s family are creating for themselves, while at the same time battling many of today’s social constructs. In the course of the program, the author learned a great deal about Jermaine’s life, culture, and the obstacles he faces. This work identifies impediments that Jermaine has experienced as well as common challenges faced in his community. In the words of the author: “Most of my research for this book is devoted to pinpointing these cultural issues and gathering varying opinions for each one. While I do detail each unique perspective, my goal is to align each argument to an economic fundamental. This creates a more consistent diagnosis that does not depend on a personal set of values. My hope is that future economists will continue to study this suffering portion of our population to determine the most effective way to remedy the continuingly increasing problem of poverty.”

The Collected Short Works of Thorstein Veblen - Volume III

Thornstein Veblen

This three-volume collection contains Veblen's publications in academic journals and other scholarly press. The articles are organized under major chapters covering Veblen's pioneering thoughts on social organization; economic theory; social theory; institutions, social organization and economic performance; contemporary policies and social movements; social applications of evolutionary reasoning. Veblen made numerous seminal contributions on issues as diverse as the social role of science, the economic and social competition between entrepreneurs and engineers as well as a sobering criticism of the still under-appreciated preconceptions of economics as a science. The collection brings together much work that has been inaccessible in print and provides instructive reading for researchers on institutional economics, evolutionary economics as well as those with an interest on the history of economic thought. This edition has been professionally typeset from the original articles for easier reading and includes a comprehensive index. It is printed on quality, hard-bound volumes, resulting in an indispensable contemporary edition of Veblen's timeless ideas.

The Collected Short Works of Thorstein Veblen - Volume II

Thornstein Veblen

This three-volume collection contains Veblen's publications in academic journals and other scholarly press. The articles are organized under major chapters covering Veblen's pioneering thoughts on social organization; economic theory; social theory; institutions, social organization and economic performance; contemporary policies and social movements; social applications of evolutionary reasoning. Veblen made numerous seminal contributions on issues as diverse as the social role of science, the economic and social competition between entrepreneurs and engineers as well as a sobering criticism of the still under-appreciated preconceptions of economics as a science. The collection brings together much work that has been inaccessible in print and provides instructive reading for researchers on institutional economics, evolutionary economics as well as those with an interest on the history of economic thought. This edition has been professionally typeset from the original articles for easier reading and includes a comprehensive index. It is printed on quality, hard-bound volumes, resulting in an indispensable contemporary edition of Veblen's timeless ideas.

The Collected Short Works of Thorstein Veblen - Volume I

Thornstein Veblen

This three-volume collection contains Veblen's publications in academic journals and other scholarly press. The articles are organized under major chapters covering Veblen's pioneering thoughts on social organization; economic theory; social theory; institutions, social organization and economic performance; contemporary policies and social movements; social applications of evolutionary reasoning. Veblen made numerous seminal contributions on issues as diverse as the social role of science, the economic and social competition between entrepreneurs and engineers as well as a sobering criticism of the still under-appreciated preconceptions of economics as a science. The collection brings together much work that has been inaccessible in print and provides instructive reading for researchers on institutional economics, evolutionary economics as well as those with an interest on the history of economic thought. This edition has been professionally typeset from the original articles for easier reading and includes a comprehensive index. It is printed on quality, hard-bound volumes, resulting in an indispensable contemporary edition of Veblen's timeless ideas.