Economic Development and Growth: A Survey

10 Pages Posted: 14 May 2013

See all articles by Meir Kohn

Meir Kohn

Dartmouth College - Department of Economics

Date Written: June 14, 2009

Abstract

Economic history has taken a more micro and theoretical approach. The resulting work has shed considerable light on the functioning of institutions, on which institutions matter, and to some extent on why. However, it has paid insufficient attention to the nature of the overall economic process within which institutions are embedded. What is needed, therefore, is a more Smithian understanding of the economy — one that sees it not as a machine but as an evolving organism (a biological rather than a mechanical analogy). If this can be done, a theory founded on the lessons of economic history offers the greatest promise of answering the basic questions of economic development and growth.

Keywords: institutions effect on economic growth in the United States, prerequisites for economic development

JEL Classification: O10, O11, O50

Suggested Citation

Kohn, Meir G., Economic Development and Growth: A Survey (June 14, 2009). Cato Journal, Vol. 29, No. 2, 2009. Available at SSRN: https://ssrn.com/abstract=2264885

Meir G. Kohn (Contact Author)

Dartmouth College - Department of Economics ( email )

Rockefeller Hall 6106
Hanover, NH 03755
United States
603-646-2648 (Phone)
603-643-2122 (Fax)

HOME PAGE: http://www.dartmouth.edu/~mkohn/

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