Revisiting the Determinants of Economic Growth Theory

2026

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This paper argues that traditional economic growth models overlook crucial social and institutional factors, advocating for a broader approach to industrial policy that addresses these determinants.

* Critiques endogenous growth models for neglecting institutional and social conditions in innovation and diffusion.
* Highlights the importance of family stability, social capital, and community resilience as drivers of economic growth.
* Proposes an expanded framing of industrial policy focused on rebuilding these foundational elements to translate innovation into widespread productivity.

Tags: economic growth, industrial policy, social capital, family stability, innovation

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