Grantham G. (1999) Contra Ricardo: unexpected growth

December 21, 2008

Grantham George (1999) “Contra Ricardo: On the macroeconomics of pre-industrial economies”, European Review of Economic History, 2/2, 199-232.


Introduction

The Classical Approach (Ricardian trap): “The narrative line of [European] history is driven by a sequence of exogenous productivity and mortality shocks that worked themselves out in time through the feedbacks between living standards and population density, in which periods of growth were succeeded by periods of contraction induced” by declining labour productivity.”
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