Growth and distribution:
This comprehensive book on the theory, measurement, and history of economic growth presents Classical and Keynesian in parallel with Neoclassical approaches, and the new variant, neoliberal capitalism. It covers growth theory, tools of intertemporal economic analysis, money and growth, technological...
Gespeichert in:
Hauptverfasser: | , , |
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Format: | Buch |
Sprache: | English |
Veröffentlicht: |
Cambridge, Massachusetts
Harvard University Press
2019
|
Ausgabe: | Second edition |
Schlagworte: | |
Online-Zugang: | Inhaltsverzeichnis |
Zusammenfassung: | This comprehensive book on the theory, measurement, and history of economic growth presents Classical and Keynesian in parallel with Neoclassical approaches, and the new variant, neoliberal capitalism. It covers growth theory, tools of intertemporal economic analysis, money and growth, technological change, the 2008 financial crisis, the rise of inequality, along with technological change, land and resource limitations, and climate change.... |
Beschreibung: | Includes bibliographical references and index |
Beschreibung: | XX, 394 Seiten |
ISBN: | 9780674986428 |
Internformat
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Datensatz im Suchindex
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adam_text | Contents Preface to the Second Edition xiii Preface to the First Edition xvii Notation xix 1 Introduction 1.1 1.2 1.3 1.4 1.5 1.6 Economic Growth in Historical Perspective Quality and Quantity 3 Human Relationships 4 Economic Theories of Growth 5 Using This Book 9 Suggested Readings 10 1 2 Measuring Growth and Distribution 2.1 2.2 2.3 2.4 2.5 2.6 2.7 2.8 2.9 2.10 2.11 2.12 2.13 Measuring Output and Inputs 13 Time and Production 17 A Note on Units 18 Technology in the Real World 19 The Uses of Output: Investment and Consumption The Social Consumption-Growth Rate Schedule 23 The Distribution of Income: Wages and Profit 25 The Real Wage-Profit Rate Schedule 26 Income Shares 28 The Growth-Distribution Schedule 31 Changes in Labor and Capital Productivity 33 Comparing Economies 36 Global Economic Leadership 37
viii Contents 2.14 Labor Productivity Growth in Real Economies 2.15 Stylized Facts 42 2.16 Suggested Readings 39 43 45 3 Models of Production 3.1 3.2 3.3 3.4 3.5 3.6 3.7 3.8 3.9 3.10 Accounting Frameworks and Explanatory Models A Model of Production 46 Agents and Distribution 48 Social Accounting Matrix 49 Choice of Technique and Production Functions 52 Particular Production Functions 57 Classifying Technical Change 64 Two-Sector Growth-Distribution Schedules 67 Models of Production and Models of Growth 72 Suggested Readings 72 4 The Labor Market 4.1 Models of Economic Growth 4.2 4.3 4.4 4.5 4.6 4.7 45 75 75 Demand for Labor 77 The Classical Conventional Wage Model 78 The Neoclassical Full Employment Model 82 Toward a Model of Economic Growth 86 Growth in Real Economies 86 Suggested Readings 88 5 Models of Consumption and Saving 5.1 A Two-Period Consumption-Saving Model 89 91 5.2 An Infinite-Horizon Model 95 5.3 The Constant Saving Rate Model 99 5.4 Saving Rates and Growth Rates 100 5.5 Suggested Readings 102 6 Classical Models of Economic Growth 103 6.1 The Classical Conventional Wage Model 103 6.2 Comparative Dynamics in the Conventional Wage Model 106 6.3 Labor-Saving Technical Change in the Classical Model 108 6.4 6.5 6.6 6.7 Choice of Technique in the Classical Model 113 A Classical Model of Growth with Full Employment 115 Choice of Technique in the Classical Full Employment Model Growth and Cycles 120 118
Contents їх 6.8 The Classical Approach to Growth 6.9 Suggested Readings 126 125 7 Induced Technical Change, Growth, and Cycles 7.1 The Induced Invention Hypothesis 127 7.2 Induced Technical Change in the Classical Full Employment Model 131 7.3 7.4 7.5 7.6 Growth Cycles with Induced Technical Change Comparative Dynamics 135 Conclusions 136 Suggested Readings 137 127 132 8 Biased Technical Change in the Classical Model 8.1 The Classical Conventional Wage Share Model with Biased Technical Change 140 8.2 Viability of Technical Change 143 8.3 Biased Technical Change and the Fossil Production Function 8.4 The Classical Full Employment Model with Marx-Biased Technical Change 149 8.5 Reverse Marx-Biased Technical Change 152 8.6 One Vision of Economic Growth 157 8.7 Suggested Readings 158 9 Endogenous Technical Change 9.1 Technical Change in a Capitalist Economy 9.2 9.3 9.4 9.5 9.6 139 145 159 159 Learning by Doing 159 R D Investment in Technical Change 162 How Much R D? 165 Steady State Growth with No Persistent Effects of R D 167 Steady State Growth with Persistent Effects of R D 168 9.7 Persistent Effects of R D with a Conventional Wage Share 9.8 Suggested Readings 172 10 The Neoclassical Growth Model 10.1 The Solow-Swan Model 175 10.2 The Intensive Production Function 176 10.3 Saving, Population, and Steady State Growth 177 10.4 The Solow-Swan Model and the Growth-Distribution 182 Schedule 10.5 The Complete Model 184 170 175
x Contents 10.6 Substitution and Distribution 10.7 Comparative Dynamics 188 10.8 Transitional Dynamics 190 186 10.9 Limitations of the Solow-Swan Model 10.10 Suggested Readings 193 192 11 Technical Change in the Neoclassical Model 195 11.1 Technical Change and the Production Function 195 11.2 The Solow-Swan Model with Harrod-Neutral Technical Change 197 11.3 Growth Accounting 199 11.4 Classical and Neoclassical Interpretations of the Residual 11.5 Comparative Dynamics in the Solow-Swan Model 205 11.6 Transitional Dynamics in the Solow-Swan Model 209 11.7 Suggested Readings 213 Appendix: Deriving the Convergence Equation 213 12 Demand-Constrained Economic Growth 12.1 12.2 12.3 12.4 12.5 12.6 12.7 215 The Global Crisis 215 Measuring Demand Shocks 216 Saving, Investment, and Output 218 A Model of Demand-Constrained Growth 220 Equilibrium in the Demand-Constrained Model 224 Comparative Dynamics in the Demand-Constrained Model Profit-Led or Wage-Led Growth? 230 12.8 Long Run or Short Run? 233 12.9 The Distributive Curve 237 12.10 The Keynesian Contribution to Growth Theory 12.11 Suggested Readings 240 Appendix: The Marglin-Bhaduri Model 241 243 Non-Reproducible Resources 243 Ricardo’s Stationary State 244 Production with Land 246 The Capitalist’s Decision Problem with Land The Arbitrage Principle 250 Equilibrium Conditions 251 13.7 The Abundant Land Regime 227 239 13 Land-Limited Growth 13.1 13.2 13.3 13.4 13.5 13.6 204 253 248
Contents Xl 13.8 The Scarce Land Regime 254 13.9 From the Abundant to the Scarce Land Regime 13.10 Lessons of the Land-Limited Model 258 13.11 Suggested Readings 260 255 14 Exhaustible Resources 14.1 14.2 14.3 14.4 14.5 14.6 261 Growth with an Exhaustible Resource 261 Production with an Exhaustible Resource 262 Saving and Portfolio Choice 265 The Growth Path 266 Exhaustible Resources in the Real World 269 Suggested Readings 270 15 Corporate Capitalism 15.1 15.2 15.3 15.4 15.5 15.6 15.7 15.8 15.9 15.10 15.11 15.12 271 272 Accounting in the Corporate Capitalist Economy Stocks and the Capitalist Decision Problem 276 Investment-Saving Equilibrium 279 The Corporate Capitalist Model 281 Stock Prices and the Asset Market 283 The Rentier Capitalist Regime 284 The Managerial Capitalist Regime 286 The Hybrid Capitalist Regime 288 Corporate Saving and the Equity Yield 291 Ownership and Control 293 An Application 294 Suggested Readings 296 16 Government Debt and Social Security: The Overlapping Generations Model 16.1 Government Finance and Accumulation 297 16.2 Government and Private Budget Constraints 298 16.3 Saving and Consumption with Selfish Households 301 16.4 16.5 16.6 16.7 16.8 16.9 16.10 Accounting in the Overlapping Generations Model 304 A Classical Overlapping Generations Growth Model 305 A Neoclassical Overlapping Generations Growth Model 309 Pareto-Efficiency in the Overlapping Generations Model 311 Analyzing Social Security and Budget Deficits 316 Social Security in the Overlapping Generations Model 318 Government Debt in the Overlapping Generations Model 325 297
16.11 The Lessons of the Overlapping Generations Model 16.12 Suggested Readings 327 327 17 Two-Class Models of Wealth Accumulation 17.1 Worker and Capitalist Saving 330 17.2 Accounting in the Two-Class Models 331 17.3 Accumulation with a Conventional Wage 333 17.4 Accumulation in the Full Employment Model 339 17.5 Wealth Distribution in the US 17.6 Conclusions 348 17.7 Suggested Readings 346 349 Appendix: Stability in the Full Employment Model 349 18 Global Warming 18.1 Global Warming and Economic Growth 351 18.2 Production with Greenhouse Gas Emissions 354 18.3 Saving and Portfolio Choice 357 18.4 The Growth Path with Fossil-Fuel Technology 18.5 18.6 18.7 18.8 359 The Growth Path with Solar Technology 363 Coordinated Growth with Global Warming 364 Optimal and BAU Growth Paths 369 Centralized and Decentralized Economic Control 372 18.9 Suggested Readings References 375 Index 387 373
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id | DE-604.BV045549004 |
illustrated | Not Illustrated |
indexdate | 2024-07-10T08:21:12Z |
institution | BVB |
isbn | 9780674986428 |
language | English |
lccn | 018024465 |
oai_aleph_id | oai:aleph.bib-bvb.de:BVB01-030933014 |
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owner_facet | DE-2070s DE-473 DE-BY-UBG |
physical | XX, 394 Seiten |
publishDate | 2019 |
publishDateSearch | 2019 |
publishDateSort | 2019 |
publisher | Harvard University Press |
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spelling | Foley, Duncan K. 1942- (DE-588)136246834 aut Growth and distribution Duncan K. Foley, Thomas R. Michl, Daniele Tavani Second edition Cambridge, Massachusetts Harvard University Press 2019 XX, 394 Seiten txt rdacontent n rdamedia nc rdacarrier Includes bibliographical references and index This comprehensive book on the theory, measurement, and history of economic growth presents Classical and Keynesian in parallel with Neoclassical approaches, and the new variant, neoliberal capitalism. It covers growth theory, tools of intertemporal economic analysis, money and growth, technological change, the 2008 financial crisis, the rise of inequality, along with technological change, land and resource limitations, and climate change.... Economic development Income distribution Wirtschaftswachstum (DE-588)4066527-6 gnd rswk-swf Einkommensverteilung (DE-588)4013898-7 gnd rswk-swf Wachstumstheorie (DE-588)4128160-3 gnd rswk-swf Einkommensverteilung (DE-588)4013898-7 s Wirtschaftswachstum (DE-588)4066527-6 s DE-604 Wachstumstheorie (DE-588)4128160-3 s Michl, Thomas R. 1951- (DE-588)170280802 aut Tavani, Daniele 1975- (DE-588)1181732387 aut Digitalisierung UB Bamberg - ADAM Catalogue Enrichment application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=030933014&sequence=000001&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis |
spellingShingle | Foley, Duncan K. 1942- Michl, Thomas R. 1951- Tavani, Daniele 1975- Growth and distribution Economic development Income distribution Wirtschaftswachstum (DE-588)4066527-6 gnd Einkommensverteilung (DE-588)4013898-7 gnd Wachstumstheorie (DE-588)4128160-3 gnd |
subject_GND | (DE-588)4066527-6 (DE-588)4013898-7 (DE-588)4128160-3 |
title | Growth and distribution |
title_auth | Growth and distribution |
title_exact_search | Growth and distribution |
title_full | Growth and distribution Duncan K. Foley, Thomas R. Michl, Daniele Tavani |
title_fullStr | Growth and distribution Duncan K. Foley, Thomas R. Michl, Daniele Tavani |
title_full_unstemmed | Growth and distribution Duncan K. Foley, Thomas R. Michl, Daniele Tavani |
title_short | Growth and distribution |
title_sort | growth and distribution |
topic | Economic development Income distribution Wirtschaftswachstum (DE-588)4066527-6 gnd Einkommensverteilung (DE-588)4013898-7 gnd Wachstumstheorie (DE-588)4128160-3 gnd |
topic_facet | Economic development Income distribution Wirtschaftswachstum Einkommensverteilung Wachstumstheorie |
url | http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=030933014&sequence=000001&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA |
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