Economic Growth and Development

Mainstream economic theories today are logical, consistent and even explanatory in many ways, when their relevance is tested in real economic situations, they often fail to correctly explain normal economic transactions. Thus they are only successful in explaining a fictional world and fictional economic relations that are largely based on unrealistic assumptions. Economic Growth is a study of new and alternative theories and models to replace the parables of these mainstream ideologies and hopes to appeal to open minded economists as a constructive contribution for the further development of new economic ideas.

UPDATE JULY 2025

Erratum: The author kindly asks the reader to ignore the incorrectly worded paragraph on page 185 cited below.　

"Another interesting development is the decline in VA produced. The reason for this outcome is the reduction in the number of employees, which caused a decline in the total VA (LWC=π) produced."