Why are some nations rich and others poor? What are the sources of long-run economic development and growth? How can living standards be increased? In this book, Klaus Gründler empirically analyses these central economic questions and puts a particular emphasis on the role of technology, inequality, and political institutions. To substantiate his empirical studies, he introduces a new method to compute composite measures and indices that is based on mathematical algorithms from the field of machine learning.

Economic Growth is an advanced undergraduate text written specifically for one semester courses in growth theory and for first year graduate students to refresh their knowledge. It will also be of great use for scholars and professional economists as the text contains many references to practical policy issues. The author condenses the fundamental issues of growth theory and covers the new ideas in a highly entertaining text, written in a clear and accessible style.