## Essays on the Theory of Optimal Economic GrowthComposite work on economic theory of optimal economic growth - includes econometrics essays covering capital investment, trade, foreign investment, savings, efficiency, labour supply, technological change and the capital worker ratio, etc. References and bibliography. |

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### Contents

Preface Karl Shell | 1 |

Optimal Accumulation with Learning by Doing | 31 |

The Optimal Rate and Direction of Technical Change | 53 |

Copyright | |

12 other sections not shown

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### Common terms and phrases

allocation analysis assumed assumption behavior C₁ calculus of variations capital accumulation capital intensity capital stock capital-labor ratio competitive concave condition of Equation constant constraints consumer consumption curve defined demand price differential Equations Economic Growth economy efficient equal Equation 11 essay Expression Figure given golden rule golden-age Harrod Inequality initial conditions investment k₁ k₂ kmax kmin(t linear long-run marginal productivity marginal utility maximand maximize necessary conditions neoclassical optimal path optimal program optimum output P₁ Pareto optimality pattern phase diagram planning Pontryagin problem production function productivity of capital productivity of labor program of capital rate of growth rate of interest region saddle point Samuelson satisfying sector shadow price social social welfare function Solow solution stationary substitution t₁ technical change technique theorem Theory trajectory turnpike unique utility function variables wage rate Y₁ z₁ zero