Neoclassical growth theory attributes economic growth to

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Neoclassical growth theory identifies technological change as the primary driver of economic growth, as it allows for increases in productivity and efficiency over time. The theory also emphasizes the importance of factors such as capital accumulation and labor force growth, but these are seen as secondary to technological progress. The law of diminishing returns is relevant to this theory, but it is not the main explanation for growth. Fiscal policy and population growth are also not considered to be major drivers of growth in neoclassical theory.

Neoclassical Growth Theory Attributes Economic Growth to