growth theories

Growth theories explore why economies grow over time. They focus on factors like investment in capital (machines, infrastructure), innovation, and a skilled workforce. Some theories emphasize the importance of technological progress driving productivity, while others highlight the role of savings, investments, and policies that create a supportive environment for growth. Essentially, these theories analyze the conditions and drivers that enable economies to expand, improve standards of living, and generate more goods and services. Different approaches offer insights into how countries can foster sustainable development and overcome economic challenges.