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PowerPoint Presentation - Economics 113: Great
PowerPoint Presentation - Economics 113: Great

... five years by as much as in any other ten or twenty years of its history.... A few more quinquennia of equal activity might, indeed, have brought us near to the economic Eldorado.... Some austere and puritanical souls regard it both as an inevitable and a desirable nemesis on so much overexpansion…. ...
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Steady-state economy

A steady-state economy is an economy of relatively stable size. A zero growth economy features stable population and stable consumption that remain at or below carrying capacity. The term typically refers to a national economy, but it can also be applied to the economic system of a city, a region, or the entire planet. Note that Robert Solow and Trevor Swan applied the term steady state a bit differently in their economic growth model. Their steady state occurs when investment equals depreciation, and the economy reaches equilibrium, which may occur during a period of growth.
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