Economic Growth and Development

Mainstream economic theories/models which are dominant today only are successful in explaining «a fictional world» and «fictional economic relationships» which are largely based upon unrealistic assumptions. It is high time to produce «new and alternative» theories and models to replace the «parables» of these mainstream ideologies.

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=**) produced."

Autorentext

Hasan Gürak was born in Istanbul and completed his studies in Germany, England and Sweden. Presently he is engaged in academic research in the field known as Heterodox Economics, aiming to develop alternative theories and analyses in mainstream economics.

Inhalt
Contents: Economic Growth Mainstream Theories/Models Alternative Growth Model Productivity Productivity Increase Short-run Growth in the Real Sector Long-run Growth in the Real Sector Service Sector Development Income Distribution.