Abstract
What really constrains the rate of growth of a mature developed economy, defined as one where the proportion of the labour force in agriculture is down to less than 30 per cent? Japan claims to have been growing at ten to eleven per cent, whereas other developed market economies claim no more than five to six per cent, which is itself more than such economies could have claimed at any time before 1950.
This is a preview of subscription content, log in via an institution to check access.
Access this chapter
Tax calculation will be finalised at checkout
Purchases are for personal use only
Preview
Unable to display preview. Download preview PDF.
Notes
E. H. Phelps Brown, Pay and Profits (Manchester University Press, 1968).
J. A. Schumpeter, Capitalism, Socialism and Democracy (New York: Harper, 1950).
The British case is discussed intensively in Chapter 5 of my Growth and Fluctuations 1870–1913 (London: George Allen and Unwin, 1978).
J. A. Schumpeter, Business Cycles (New York: McGraw-Hill, 1939).
See my Growth and Fluctuations, op. cit., Chapters 2 and 3.
C. P. Kindleberger, Economic Growth in France and Britain in 1851–1950 (Cambridge, Mass.: Harvard University Press, 1964) Chapter 6.
Editor information
Editors and Affiliations
Copyright information
© 1982 Charles P. Kindleberger and Guido di Tella
About this chapter
Cite this chapter
Lewis, W.A. (1982). The Growth of Mature Economies. In: Kindleberger, C.P., di Tella, G. (eds) Economics in the Long View. Palgrave Macmillan, London. https://doi.org/10.1007/978-1-349-06287-4_7
Download citation
DOI: https://doi.org/10.1007/978-1-349-06287-4_7
Publisher Name: Palgrave Macmillan, London
Print ISBN: 978-1-349-06289-8
Online ISBN: 978-1-349-06287-4
eBook Packages: Palgrave Economics & Finance CollectionEconomics and Finance (R0)