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Rola producentów w wybranych koncepcjach wzrostu gospodarczego

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Pieńkowski D.

Optimum. Studia Ekonomiczne

2013

issue 2(62)

41-61

The contemporary financial crisis was caused by the policy of corporate financial giants, who created virtual financial products that exceeded the actual capacity of the global economy. This paper analyses three conceptions of growth which widely vary in terms of the role of en-trepreneurs in the creation of economic processes. The Solow model of steady state growth sees entrepreneurs as passive recipients of market conditions, their investment decision being dependent on savings. R. Harrod’s and H. Domar’s model highlights the independence of entrepreneurs in the creation of investment demand and, like most post-Keynesian growth models, attaches great importance to the role of investment in the process of steady stateeconomicgrowth. Finally, M. Kalecki describes entrepreneurs as independent creators of both savings and economic growth. On the other hand, he believes that the investment process itself is one of the determinants of un-steady growth. This paper clarifies the role of financial institutions in the creation of crisis in the light of economic growth models. Consequently, the cyclic nature of economic growth triggered by various financial market transactions justifies the regulative role of socio-economic institutions in all of the presented models of economic growth.

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1 Optimum. Studia Ekonomiczne

1 Pieńkowski D.

1 2013

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Rola producentów w wybranych koncepcjach wzrostu gospodarczego