Unified Growth Theory

The Unified Growth Theory ( dt Unified growth theory ) is a technology developed by Oded Galor growth theory.

It is based on the criticism of many endogenous growth theories that explain long- term economic growth only for periods beginning of the industrial revolution and / or apply just to the current Western industrial nations. Before that time, there were over thousands of years no long -term growth trend ( in per capita variables, see Malthusian catastrophe ).

The Unified Growth Theory tries to explain the growth process across all phases of development of humanity in a single model framework. Here, the demographic transition is especially considered. This means the historical observation that the birth and death rates are declining in a country during its development from a pre-industrial society to an industrialized nation.