Phases of capitalist development

Authors

  • A. MADDISON

DOI:

https://doi.org/10.13133/2037-3643/11372

Keywords:

Modern economic development, capitalist countries, long-term performance

Abstract

Within the period of modern economic growth, there have been distinct and important phases of development. Such phases have characteristics which put constraints on the performance of individual countries, whether they be fast or slow growing. The present paper deals with developments since 1870 in 16 of the more advanced capitalist countries, and divides the past century’s experience into four phases. The author looks at long-term performance records, interruptions to growth, phases of growth and finally explanations of differences in momentum between phases.

 

JEL: O11, P10

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Published

2013-12-18

How to Cite

MADDISON, A. (2013). Phases of capitalist development. PSL Quarterly Review, 30(121). https://doi.org/10.13133/2037-3643/11372

Issue

Vol. 30 No. 121 (1977)

Section

Editorial

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