Verdoorn's Law

Discipline: Economics

Named after Dutch economist PETRUS JOHANNES VERDOORN, Verdoorn's law relates to the long-term dynamic relationship between the rate of growth in output and the growth of productivity due to increasing returns.

Source:
P J Verdoorn, 'Verdoorn's Law in Retrospect: A Comment', Economic Journal, vol. xc (June, 1980), 382-85

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