THEORY OF GROWTH: THE VON NEUMANN REVOLUTION.

Abstract

Economic growth is examined using the Von Neumann model which permits joint production and treats fixed capital goods of different vintages as different goods. The existence of a balanced growth of all outputs with continued full employment of labor is established. The path of this equilibrium growth rate is shown to have optimality properties. The effect of the real wage rate upon the growth rate of the working population is examined.

Document Details

Document Type
Technical Report
Publication Date
Dec 04, 1964
Accession Number
AD0609307

Entities

People

  • Michio Morishima

Organizations

  • Stanford University

Tags

DTIC Thesaurus Topics

  • Chemical Reaction Properties
  • Employment
  • Manpower Utilization
  • Production
  • Revolutions

Fields of Study

  • Economics

Readers

  • Economics
  • Mathematical Modeling and Probability Theory.