The Dynamic Systems of Basic Economic Growth Models

Volume 302 of the series Mathematics and Its Applications pp 19-30

Basic laws of production

  • Bjarne S. JensenAffiliated withCopenhagen Business School

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Any mathematical theory of economic growth is inevitably based on a judicious choice of assumptions that, before proceeding, ought to be fully elucidated. In dynamics, quite complicated results can be deduced from a few simple principles. Throughout, our basic principles remain fairly simple and general and yet lead to the most elaborate consequences.