Whilst for The Classical Political Economists Adam Smith, David Ricardo and Thomas Malthus economic growth is self-reinforcing. The spread of market had facilitated the specialisation, encouraging division of labour.
Industrialisation also encouraged the expansion of trade and gradual breakdown of the pre-capitalist order in 18th century in Britain. With the rise of capitalism and industrial revolution it became an important tool to measure production quantitatively and qualitatively. The term was hardly touched in pre-capitalism by any academic research. The growth paradigm or the economic growth generally been presented as a positive, limitless and good for social problems. Author : Farhang Morady, Hakan Kapucu, Ömer Yalçınkaya
