Overview

steady state


Show Summary Details

Quick Reference

In economics, a state of an economy that does not change over time. In neoclassical economics this is the state with a constant capital–labour ratio. In particular, this implies that per capita quantities of output and consumption are also constant, whereas the levels of capital stock, output, and consumption in the steady state grow at the rate of population growth.

Subjects: Environmental Science — Economics.


Reference entries

Users without a subscription are not able to see the full content. Please, subscribe or login to access all content.