The Science of Economic Development and Growth: The Theory of Factor Proportions

The Theory of Factor Proportions

By: C.C. Onyemelukwe

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Hardcover | 31 July 2003 | Edition Number 1

At a Glance

Hardcover
430 Pages

Dimensions(cm)
24.6 x 18.9 x 3.18

Hardcover

RRP $305.00

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The Science of Economic Development and Growth outlines a new theoretical framework -- one employing scientific method and reasoning -- through which to study and plan for the economic development of poor countries.

This new theory is presented in three parts: first, a full discussion of how countries like the U.S. were able to develop; second, the author proposes that there is a third dimension to understanding growth and development -- material -- which must be considered along with labor and capital; third, the book shows how capital accumulation -- long thought to be a necessary precursor to growth and economic expansion -- is not only unnecessary but can actually lead to "economic hemorrhage", as was the case during the Asian economic crisis.

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