Aspects of Distribution and Growth in a Capitalist Economy |
Contents
simple growth model | 13 |
The optimal capital income from the wage earners point | 40 |
5 | 48 |
Copyright | |
4 other sections not shown
Common terms and phrases
a₁ a₂ assume assumptions asymptotic value B₁ B₂ capital income capital owners capital return capital stock capitalists invest chapter concave functions condition constant consumption contour lines decline decrease depends differential equation differential game economy elasticity of substitution equal exist formula game solution given gives Golden Rule growth rate H₂ holds implies income distribution increase Inserting investment rate isoquants labour larger marginal elasticity marginal productivity maximizes national product negative non-negative optimization problem P₁ P₂ P₂t Pareto optimal solutions positive possible preference function production function ratio region of substitution satisfied section 2.2 sectors slopes social welfare function steady state game steady state solution technical progress total capital accumulation u₁ u₁(t u₂ u₂(t V₂ valid W₁ W₂ wage earners whole period workers and capitalists workers consume Y-isoquants zero investment α₂ Ալ Աշ