Problems of Accelerated Growth

Abstract

The concept of growth is commonly used in the technical sense to refer to the growth of the volume of production. The short-coming of this definition is that it restricts the concept to the technical aspect of the process of growth, and excludes the social and human aspects. To take care of these aspects, some economists propose to define growth as the capacity of the society to grow. According to this definition, the rate of growth of national product is not a sufficient indicator of the fundamental changes that take place. It has to be supplemented by other indicators to follow up the development of the human and social aspects.