Международный журнал экономики и менеджмента

Economic Growth Theories: Unravelling the Path to Prosperity

Abstract

Finn Hazel*

This comprehensive exploration of economic growth theories provides a deep understanding of the evolving concepts and principles that underpin sustained economic development. Beginning with classical ideas like mercantilism and physio racy, the journey extends through neoclassical, endogenous, and modern growth theories, offering insights into their strengths, limitations, and real-world policy implications. The analysis underscores the importance of considering a blend of these theories to formulate effective growth strategies that address contemporary challenges while fostering long-term prosperity.