Title: A Masterly Study
Product review: This is a masterly study. Solow speaks about the old neoclassical growth theory in the first half of the book and then goes on in the second half to review the developments of new growth theory that started in the mid eighties. He comments on the essence of Lucas' work (on human capital), Romer's work (on endogenous technical change), the work of Grossman and Helpman (on quality ladders) and that of Aghion and Howitt (on creative destruction). These references have now reached the status of classics in endogenous growth theory. Solow provides penetrating insights into the new developments. The book is a must for any student of the subject interested in traversing the bridge that connects the old to the new growth theory.
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