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Post-Neoclassical Endogenous Growth Theory

Economics Markets and Financial TheoryUpdated 05 Nov 2026

Post-neoclassical endogenous growth theory is a phrase made famous by Gordon Brown, then the UK Labour Party's shadow chancellor, in a 1994 speech; it was widely mocked as jargon. It refers to endogenous growth theory, explained in full on that page.

That theory, developed by Paul Romer and others, holds that long-run growth comes from ideas, human capital and research and development that policy can influence, rather than only from outside forces as in neoclassical growth models.

Last updated 05 Nov 2026