THE PAKISTAN DEVELOPMENT REVIEW
Some Factors in Growth Reconsidered by Robert Eisner, (Lecture Series No. 21). Athens: Center of Planning and Economic Research, 1966. pp.63.
Eisner’s book contains two lectures which were read at the Center of Planning and Economic Research in Athens. In his first lecture the author raises the question: does a higher level of employment contribute to a more rapid, sustained rate of economic growth? A number of economists, including P.A. Samuelson, A.W. Philips and Harry Johnson, have argued that the positive relation between employment and growth is a transitory phenomenon which occurs only when the employment level changes. By using a simple model of the Harrod-Domar type he shows that the higher the level of employment or, more exactly, the higher the proportion of the labour force employed the greater will be the percentage rate of growth of output.