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Introduction to Modern Economic Growth
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First and foremost, this is a book about economic growth and long-run economic
development. The process of economic growth and the sources of differences in
economic performance across nations are some of the most interesting, important
and challenging areas in modern social science. The primary purpose of this book is
to introduce graduate students to these major questions and to the theoretical tools
necessary for studying them. The book therefore strives to provide students with a
strong background in dynamic economic analysis, since only such a background will
enable a serious study of economic growth and economic development. It also tries
to provide a clear discussion of the broad empirical patterns and historical processes
underlying the current state of the world economy. This is motivated by my belief
that to understand why some countries grow and some fail to do so, economists have
to move beyond the mechanics of models and pose questions about the fundamental
causes of economic growth.