All one of high quality. The question investigated in

All the articles are on the topic of economic growth.


Article 1: ‘A model of economic growth’

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The article has been cited 2673 times,
which is (quite) a high number for scientific citations. Combined with the fact
that it was published in The Economic Journal, which has a high impact score on
Web of Science, my assessment is that the quality of the article is good. The
article was written by Nicholas Kaldor. The most important factors influencing
economic growth are (a) people’s behaviour concerning savings, the population
growth and the amount of innovation. These factors have proven themselves to be
heavily related, together forming the input for calculating economic growth.
The capital/output ratio has proven itself to be constant. The model discussed
is based on Keynesian techniques, stating that an excess in demand of for
example labour will lead to the supply increasing, thereby always reaching full
employment, the general level of output is only restricted by the limited
resources available. It appears that technical innovations that enhance productivity
require more capital per man, a shortage of capital thus restricts innovation
and vice versa. An economic system will automatically reach the point P in a
graph where the growth in capital and output are equal. The model shows that in
the first stage of capitalism, the increase in growth is not attended with a
wage increase. The second phase comes when wages start increasing too at the
same level as growth. In the model, major breakdowns can occur, but in the end,
those will stabilize the system.


Article 2: ‘Economic growth and income

This article by Kuznets has been cited
11,386 times and was published in the American Economic Review, therefore the
article can be seen as one of high quality. The question investigated in this
article is whether the income distribution changes when economic growth does.
To investigate this people moving to different social classes is taken into
account, just like many other factors to be able to conclude specific
observations. The generally assumed conclusion of the researched data is that
the more growth the more incomes move to equality. Because the upper-incomes
save a lot more and the percentage of the population living in the less
equally divided urban areas increases, it seems strange that overall incoming
distribution equalizes. The savings argument is neutralised by the impact of
political decisions. The second assumption seems logical, but has not proven to
be true, counteracted by the fact that urban lower-class incomes have risen
relatively a lot. ————


Article 3: ‘A contribution to the
theory of economic growth”

This article has been cited 24,406
times and was published in the Quarterly Journal of Economics, which according
to Web of Science has the highest impact factor of all economic journals. The
article commences by discussing a research on economic growth by Harrod and
Domar. According to Solow, they made a crucial assumption that – if not true –
would make the results of their research suspect. They assumed production takes
place under conditions of fixed proportions where one cannot substitute labour
for capital. Solow discarded this assumption. Solow looks at capital
accumulation, population/labour growth and technological progress in order to
explain economic growth. A part of output, which is given by the production
function with inputs capital and labour, will be consumed and the other part saved
and invested in capital. Capital has diminishing returns. As a result, marginal
output will equal depreciation at a certain point, at this point it is not possible
to invest more in capital. Hence, neither capital nor output will change at
this point.  Moreover, the capital-labour
ratio is constant here, which means capital has to increase at the same rate as
labour at this point.