evidence that it is right, bring a new perspective. What Solow and other economists teach today , judging from the textbooks I read, is more or less Harrod without the knife edge. We are taught to figure out the warranted growth path, meaning the rate of technological growth, and then invest just enough,

plore some of this idea later. Harrod’s Knife Edge Solow’s neoclassical growth model developed from ideas published a decade earlier by Roy Harrod. Harrod had described a “warranted growth path” given by the pace of technological innovation. He reasoned correctly that any effort to push investment faste

nor that anyone at all has proposed thrift theory as here defined. It is my impression, not assertion, that modern consensus fits thrift theory given Harrod’s qualifier that attempted (ex ante) net saving (thrift) must not exceed the technological growth rate (warranted growth path). My impression is tha