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Ever since Adam Smith, economists have been preoccupied with the puzzle of economic growth. The standard mainstream models of economic growth were and often still are based either on assumptions of diminishing returns on capital with technological innovation or on endogenous dynamics combined with a corresponding technological and institutional setting. An alternative model of economic growth emerged from the Cambridge School of Keynesian economists in the 1950s and 1960s. This model - developed mainly by Luigi Pasinetti - emphasizes the importance of demand, human learning and the growth dynamics of industrial systems. Finally, in the past decade, new mainstream models have emerged incorporating technology or demand-based structural change and extending the notion of balanced growth. This collection of essays reassesses Pasinetti's theory of structural dynamics in the context of these recent developments, with contributions from economists writing in both the mainstream and the Cambridge Keynesian traditions and including Luigi Pasinetti, William Baumol, Geoffrey Harcourt and Nobel laureate Robert Solow.

Demographers predict that world population will double to around twelve billion people during the first half of the twenty-first century and then begin to level off. Based on this scenario, Sustainable Development: The Challenge of Transition examines what societal changes must occur over the next generation to ensure a successful transition to sustainability within the constraints of the natural environment. An array of prominent authors present a broad discussion of the dimensions of sustainable development: not just economic and environmental, but also spiritual and religious, corporate and social, scientific and political. Unlike other books on the subject, this volume provides insightful policy recommendations about how business, government, and individuals must change their values, priorities, and behaviour to meet these challenges. This volume will appeal to scholars and decision makers interested in global change, environmental policy, population growth, and sustainable development, and also to corporate environmental managers.