New Economics, Socio-technical Transitions and Social Practices
Edited by Maurie J. Cohen, Halina Szejnwald Brown and Philip J. Vergragt
Chapter 4: Going for a better life
During the late 1930s, economic growth emerged as a focus of national policy. At first this development was confined to the nations of Western Europe and North America. However, it rapidly spread throughout the globe. Writing in 1964, James Tobin described the situation in the following terms: In recent years economic growth has come to occupy an exalted position in the hierarchy of goals of government policy, both in the United States and abroad, both in advanced and in less developed countries, both in centrally controlled and decentralized economies. (Tobin, 1964, p. 1)
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