What are the new theories of economic growth?

New theories of economic growth focus on factors beyond traditional measures such as capital accumulation and technological progress. These theories emphasize the role of institutions, human capital accumulation, technological adoption, and the importance of innovation and entrepreneurship in driving long-term sustainable economic growth. Some of these theories also consider the impact of globalization, inequality, environmental sustainability, and the digital economy on economic growth. Overall, these new theories provide a more comprehensive and dynamic understanding of the complex factors that contribute to economic growth in the modern era.

This mind map was published on 21 February 2024 and has been viewed 174 times.