Table of Contents

Preface; Acknowledgements; Part I. The Basic Model: 1. Introduction: scope and method; 2. Patterns of economic growth; 3. A schema of industrial production; 4. The circulation of fixed capital; 5. The circulation of working capital; 6. The stationary process in operation: structure analysis; 7. The stationary process in operation: force analysis; 8. Transition to dynamic equilibrium; 9. Dynamic equilibrium: structure analysis; 10. Dynamic equilibrium: force analysis; Part II. Changes in the Rate of Change: The Dynamics of Labour Supply: 11. The setting of the problem; 12. A bird's-eye view of an expanding traverse; 13. On the short-period variability of the capital-labour supply in a free market; 14. Adjustment to a higher rate of growth of labour supply in a free market: I. Structure analysis; 15. Adjustment to a higher rate of growth of labour supply in a free market: II. Force analysis; 16. Adjustment to a higher rate of growth of labour supply in a collectivist system; 17. Some comments on the role of working capital in the traverse; 18. Instrumental analysis of decline in the rate of growth of labour supply; Part III. Changes in the Rate of Change: The Dynamics of Natural Resources Supply: 19. The dynamics of diminishing returns; 20. Recycling of production and consumption residuals and the structure of production; Part IV. Changes in the Rate of Change: The Dynamics of Technological Progress: 21. The scope of the investigation; 22. Dynamic equilibrium once more; 23. Nonneutral innovations: a general survey; 24. Pure labour-displacing innovations; 25. Pure capital-displacing innovations; 26. Some comments on combined changes in the input of labour and capital; 27. Technical progress and diminishing returns; 28. Some concluding remarks; Appendix: an alternative presentation of Lowe's basic model Edward J. Nell; Glossary of recurring symbols; Name index; Subject index.

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This study, first published in 1976, explores the theory and impact of economic growth.