Unlike Hegel's progress model of history, which moves by stages, each containing its own logic of growth and decline, the economic model develops as the simple function of one money-variable over time, with a long-term trend which increases monotonically. (John Carroll)

Unlike Hegel's progress model of history, which moves by stages, each containing its own logic of growth and decline, the economic model develops as the simple function of one money-variable over time, with a long-term trend which increases monotonically.

John Carroll

Related topics

containing history model simple time trend moves

Related quotes

Anyone who knows anything of history knows that great social changes are impossible without feminine upheaval. Social progress can be measured exactly by the social position of the fair sex, the ugly ones included.

Karl Marx

A person cannot choose the time in which he is born or lives; it is not up to him, who his parents are, or the nation he will be born into, but what he is responsible for is how he will act in that given time: will he be human or inhuman.

Pavle (Serbian)

My recent work on macroeconomics has stressed long-term issues, including the determinants of long-run economic growth. From the standpoint of fighting world poverty, nothing is more important than figuring out which policies differentiate the fast-growing countries from the slow-growing ones.

Robert Barro

Mass application of technological innovations, which constitutes much of the distinctive substance of modern economic growth, is closely connected with the further progress of science, in its turn the basis for additional advance in technology.

Simon Kuznets

A country's economic growth may be defined as a long-term rise in capacity to supply increasingly diverse economic goods to its population, this growing capacity based on advancing technology and the institutional and ideological adjustments that it demands.

Simon Kuznets