Comprising specially commissioned essays, the Handbook provides a comprehensive overview of alternative theories of economic growth. It surveys major sub-fields (including classical, Kaleckian, evolutionary, and Kaldorian growth theories) and highlights cutting-edge issues such as the...

This paper develops a growth model with overlapping generations of workers who save for life-cycle reasons and Ricardian capitalists who save from a bequest motive. The population of workers accommodates growth, so that the rate of capital accumulation is endogenous and determines the growth of...

This paper develops a growth model with overlapping generations of workers who save for life-cycle reasons and Ricardian capitalists who save from a bequest motive. The population of workers accommodates growth,so that the rate of capital accumulation is endogenous and determines the growth of...

As we note in this issue, budget surpluses are in doubt. But should the economy return to rapid economic growth, and indeed produce surpluses again, the author makes an interesting case. He argues that a classical growth model suggests social security should be totally funded, but it would be...

In the MarchApril 2002 issue, Thomas Palley wrote a critique of Thomas Michl's proposals to reform social security. Michl's response follows.

This paper offers a classical model of biased technical change in the MarxRicardo tradition as a framework for theoretical and applied studies of growth. The observable data it generates would appear to an unsuspecting economist to be well-described by a neoclassical model with a static...

What should the new U. S. economic policies be? Challenge often devotes its pieces to discussion of demand and public investment. In this piece, however, we offer another view. The author argues in favor of creating surpluses through a progressive income tax or even wealth tax-perhaps even...

This paper analyzes the burden of debt in a growth model that combines overlapping generations of workers who save for life-cycle reasons and dynastic agents who save for bequest reasons ('capitalists'). Ricardian Equivalence prevails, but capitalists regard the debt serviced out of taxes on...