MECHANISM OF BRITISH ECONOMIC GROWTH. (The Process and Structural Change of a Growing Economy : A Comparative Study of Some Historical Cases)

Abstract

He described the framework which makes the traditional economy spurt into 'take-off'. Generally speaking, the necessary factors for 'take-off' are as follows: population growth, capital resources and innovation. Besides these economic factors for 'take-off', he emphasized the social circumstances under which the economic factors could work effectively. On this point Britain's 'take-off' was presented as a typically successful case.