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Modern Economic Growth Under Geopolitical Tensions, Transmission of Diseases and Climate Change

IJED, Vol. 15 No. 2, 157-183 (2022)

The aim of this article is to show-off mutations in the literature of economic growth where development basically, is a process composed of three regimes. The last is the modern growth that reccords paradigm change since it includes dangerous innovations generated by R&D due to high technologial change leading to geopolitical risk coupled with infectious disease, pandemic spread and climate change creating danger and scarcity at all levels. The extended modern growth proposed here, includes international tensions and conflicts similar to those viewed in the past in order to renew economic growth theoretical foundations and establish the new steady state that yields the equilibrium focused on peace any time. An OLG model is used to provide that efficient method reducing uncertainty including Ukraine and Russia war where the forthcoming third war risk is high through the partners intervention.

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