How can society improve its living standards? What are the conditions necessary for prosperity? These are the questions that define the essence of growth theory. In this user-friendly book, Olivier de la Grandville provides a fascinating introduction to the theory of economic growth and shows how many results from this field are of paramount importance for society. The classical mechanics of the growth process are carefully explained, with two chapters devoted to the fundamental issue of the substitution of labor for capital in the growth process (co-written with Robert M. Solow, winner of the Nobel Prize in Economics). The book also addresses the fundamental question of the optimal investment rate of an economy. In addition, de la Grandville shows us that by unifying the descriptive and normative aspects of growth theory we can generate many fresh insights, including a proof of Adam Smith's 'Invisible Hand' conjecture.

Since the very beginnings of economics as a science, which might be dated from Ibn Khaldun's "Introduction to History" (1377), the challenge of making societies escape from poverty and attain some degree of prosperity has always been, and will remain, a fundamental issue. It was and it is still recognized today that this central venture is multi-faceted. Inasmuch as investment and technical progress are central in the growth and development process, many other dimensions must be taken into consideration, such as institutions, the openness of the economy, the protection of the environment. This book will presents cutting edge research on each of these issues and features a preface from Ken Arrow.

Jean de la Fontaine (1621-95) freely plundered the works of Aesop, Phaedrus, Bidpai and others to transform the world's great fables into charming poems of astonishing originality, wit and verve. Here he depicts lions, frogs, donkeys, rats, insects, birds and wily foxes in situations that reveal the quirks, follies and frailties he observed in humankind. Sins of pride, greed and vanity come under humorous attack - a cunning fox tricks a crow out of his dinner, an arrogant hare loses a race to a steady tortoise, a merry cicada who sings all summer finds herself hungry in winter, and the goddess Juno scolds a peacock who covets a nightingale's song. But faith in human nature can also be found in poems such as those in which a wolf is saved from choking by a helpful stork, demonstrating an engaging belief in the possibilities of redemption.