Abstract
In growth theory, the neoclassical approach -which will be abbreviated here as NMG (Neoclassical Model of Growth)- prevails. This approach, which is based mainly on the so-called Solow Model (Antonelli, 2013, 2017; Barro and Sala-i-Martin, 2009), in the absence of technical progress, proposes that the accumulation of capital depends directly on the rate of savings and inversely on the capital/product ratio, with the quotient between both equal to the rate of population growth, which is also the rate of growth of capital and product.
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