--- canonical_url: "https://csls.ca/ipm-archive/issue-8/understanding-economic-growth-review-article-of-why-economies-grow/" title: "Understanding Economic Growth: Review Article of Why Economies Grow" author: name: "CSLS" url: "https://csls.ca/author/cslc/" date_published: "2026-07-13T06:53:19+00:00" date_modified: "2026-07-13T06:53:19+00:00" post_type: "ipm" summary: "" ipm_issue_period: - "Spring 2004" ipm_keyword: - "demand-side" - "economic growth" - "ICT" - "industrial revolution" - "Madrick" - "market size" - "productivity" - "review article" - "technological change" - "United States" ipm_research_theme: - "Productivity trends and comparisons" ipm_country_focus: - "International" - "United States" featured_image: "https://csls.ca/wp-content/uploads/2026/06/IPM_50_banner.webp" status: "publish" --- # Understanding Economic Growth: Review Article of Why Economies Grow Canonical URL: https://csls.ca/ipm-archive/issue-8/understanding-economic-growth-review-article-of-why-economies-grow/ # Understanding Economic Growth: Review Article of Why Economies Grow [Download full PDF article](https://csls.ca/wp-content/uploads/2026/07/IPM-Issue-8-8-Sharpe.pdf) Cite this article × Cite this article as: Sharpe, Andrew. 2004. “Understanding Economic Growth: Review Article of Why Economies Grow.” International Productivity Monitor, No. 8 (Spring 2004): 81–84. https://www.csls.ca/ipm-archive/issue-8/understanding-economic-growth-review-article-of-why-economies-grow/ ## Author: - Andrew Sharpe Centre for the Study of Living Standards (CSLS) ## IPM Issue 8 Spring 2004 pp. 81–84 ## Related IPM articles [Is the SNA Still Useful? 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The reviewer summarizes Madrick’s historical account of U.S. productivity growth from the 19th century through the post-1995 acceleration, including examples such as the interchangeability of parts, the assembly line, and ICT. While acknowledging the book’s stimulating demand-side perspective, the reviewer notes that Madrick’s framework complements rather than replaces conventional supply-side explanations, and questions his pessimistic conclusions about the sustainability of strong U.S. growth. Cet article de recension examine l’ouvrage de Jeff Madrick Why Economies Grow (2002), qui soutient que la taille des marchés et les forces du côté de la demande — plutôt que le changement technologique — sont les principaux moteurs de la croissance économique. Le recenceur résume le récit historique de Madrick sur la croissance de la productivité américaine depuis le XIXe siècle jusqu’à l’accélération post-1995, en incluant des exemples tels que l’interchangeabilité des pièces, la chaîne de montage et les TIC. Tout en reconnaissant la stimulante perspective axée sur la demande de l’ouvrage, le recenceur note que le cadre de Madrick complète plutôt qu’il ne remplace les explications conventionnelles axées sur l’offre, et remet en question ses conclusions pessimistes quant à la durabilité d’une forte croissance américaine. [Download full PDF](https://csls.ca/wp-content/uploads/2026/07/IPM-Issue-8-8-Sharpe.pdf)