Model for free market growth

[LayMuon]

Hi guys, I am not economist, but can anybody tell me whether there is a mathematical model for growth in free market economy without state intervention? Where can I look them up? Thanks.

 

[WWGD]

This is kind of temptative, i.e., somewhat-speculative, so you should ignore if someone comes up with something more substantial, but, from what I know, the Austrian school of Economics may give you a lead.

 

[Tosh5457]

Solow-Swan model. Although it doesn't really refer to free markets, the mechanisms which make long-term growth happen are savings, capital accumulation and technological progress, which can happen with no direct government intervention. Of course there has to be a government enforcing the law, trust policies and to facilitate new investment, etc..

 

[Czcibor]

LayMuon:
What exactly do you want to model? (Because Tosh suggested a reasonable, simple answer, which for example ignores short term swings)

 

[LudusRex]

I can provide some information on the topic of a mathematical model for growth in a free market economy without state intervention. There are various models that have been proposed by economists and researchers to explain the growth of free market economies. One commonly used model is the Solow-Swan model, which focuses on the role of capital accumulation and technological progress in driving economic growth. This model assumes a free market economy without state intervention and has been used to analyze the growth patterns of many countries.

Other models that have been proposed include the Harrod-Domar model, which emphasizes the importance of investment in driving economic growth, and the endogenous growth theory, which argues that technological progress is endogenously determined by factors such as human capital and research and development. These models also assume a free market economy without state intervention.

You can find more information on these models and other mathematical models for free market growth in economic textbooks and research papers. Additionally, there are online resources such as academic journals and economic databases that can provide further information on this topic. It is important to note that while these models may provide insights into the growth of free market economies, they are not the only factors that influence economic growth and may not fully capture the complexities of real-world economies.