Unified Growth Theory

The Unified Theory Growth (dt. Uniform growth theory ) is one of Oded Galor developed growth theory .

It is based on the criticism of many endogenous growth theories that explain long-term economic growth only for periods from the industrial revolution and / or only apply to the current western industrial nations. Before this time there was no long-term growth trend for thousands of years (in per capita terms, see Malthusian Catastrophe ).

The Unified Growth Theory tries to explain the growth process across all development phases of mankind in a single model framework. In particular, the demographic transition must be taken into account. This refers to the historical observation that the birth and death rates in a country fall during its development from a pre-industrial society to an industrial state.

literature

• Oded Galor: Unified Growth Theory . Princeton University Press; Edition: First Edition, First Printing (April 11, 2011). ISBN 978-0691130026 .

Web links

• Unified Growth Theory - Article in the Gabler Wirtschaftslexikon