Abstract
Rhetoric is an integral part of any science, including economics. The rhetoric, inherent in the use of many economic concepts, such as economic growth, needs clarification when confu-sion may arise. The paper analyzes the distinction made by V.G. Grebennikov between eco-nomic growth, which serves to characterize the very fact of an increase in aggregate output, which is typical for traditional rhetoric, and the specifically understood concept of genuine economic growth as one of the types of increase in aggregate output caused by factors that simultaneously ensure an increase in effective production potential. It is this circumstance that sheds light on the true semantics of economic growth. It is also suggested that the prob-lem of the causality of economic growth and institutional changes – what precedes what – may be based on an ambiguous interpretation of economic growth by the participants in the discussion.
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