The New Palgrave Dictionary of Economics

2018 Edition
| Editors: Macmillan Publishers Ltd

Natural and Warranted Rates of Growth

  • J. A. Kregel
Reference work entry


The concepts of the natural and warranted rates of growth of national income, associated with the work of R.F. Harrod and E.D. Domar, were first developed in the 1930s and 1940s as part of the rethinking of the theory of economic fluctuations generated by Keynes’s General Theory. Somewhat paradoxically, they formed an initial impetus for the theories for long-run steady growth elaborated in the 1950s and 1960s.

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© Macmillan Publishers Ltd. 2018

Authors and Affiliations

  • J. A. Kregel
    • 1
  1. 1.