2013 № 4

To the question about economic growth and economic development


In article it is shown that the theory of economic growth, based on an analysis of the «total product», simplifies the complex and multi-dimensional (vector) reality to a simple scalar representations. Simplifying the real picture, this theory helps to understand the basic relationships in real life and on this basis to make decisions. But it inevitably generates distortion, so it becomes necessary additional, but beyond macroeconomics, realistic analysis of the “Economics of development”. Thus, it is necessary for real life, an attempt to reduce the gap between the concepts of economic growth and development.

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Alexander D. Nekipelov – Member of RAS, Dr. Sci. (Econ.), Professor, Vice-President of the Russian Academy of Sciences (Moscow, Russian Federation;e-mail: neki@presidium.ras.ru).