Malthus to Solow
Author | : Gary Duane Hansen |
Publisher | : |
Total Pages | : 36 |
Release | : 1999 |
Genre | : Cost and standard of living |
ISBN | : |
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Author | : Gary Duane Hansen |
Publisher | : |
Total Pages | : 36 |
Release | : 1999 |
Genre | : Cost and standard of living |
ISBN | : |
Author | : Gary D. and Prescott Hansen (Edward C.) |
Publisher | : |
Total Pages | : |
Release | : 1999 |
Genre | : |
ISBN | : |
Presents an abstract and downloadable versions of "Malthus to Solow," a staff report written by Gary D. Hansen and Edward C. Prescott in January 1999 for the Federal Reserve Bank of Minneapolis Research Department. Examines a unified growth theory for roughly constant living standards displayed by world economies prior to 1800.
Author | : |
Publisher | : |
Total Pages | : |
Release | : |
Genre | : |
ISBN | : |
Presents an abstract and downloadable versions of "Malthus to Solow," a staff report written by Gary D. Hansen and Edward C. Prescott in January 1999 for the Federal Reserve Bank of Minneapolis Research Department. Examines a unified growth theory for roughly constant living standards displayed by world economies prior to 1800.
Author | : Luis C. Corchón |
Publisher | : |
Total Pages | : 9 |
Release | : 2017 |
Genre | : |
ISBN | : |
In this paper we introduce a labor supply based on Malthusian ideas in the Solow-Swan growth model (without technical progress). We show that this model may yield several steady state values of per capita income and that an increase in total factor productivity might decrease the capital-labor ratio in a stable steady state.
Author | : Giorgos Kallis |
Publisher | : Stanford Briefs |
Total Pages | : 128 |
Release | : 2019-10-15 |
Genre | : Business & Economics |
ISBN | : 9781503611559 |
Author | : Robert M. Solow |
Publisher | : Princeton University Press |
Total Pages | : 121 |
Release | : 2009-10-15 |
Genre | : Business & Economics |
ISBN | : 1400822645 |
The Nobel Prize-winning economist Robert Solow directs his attention here to one of today's most controversial social issues: how to get people off welfare and into jobs. With characteristic eloquence, wit, and rigor, Solow condemns the welfare reforms recently passed by Congress and President Clinton for confronting welfare recipients with an unworkable choice--finding work in the current labor market or losing benefits. He argues that the only practical and fair way to move recipients to work is, in contrast, through an ambitious plan to guarantee that every able-bodied citizen has access to a job. Solow contends that the demand implicit in the 1996 Welfare Reform Act for welfare recipients to find work in the existing labor market has two crucial flaws. First, the labor market would not easily make room for a huge influx of unskilled, inexperienced workers. Second, the normal market adjustment to that influx would drive down earnings for those already in low-wage jobs. Solow concludes that it is legitimate to want welfare recipients to work, but not to want them to live at a miserable standard or to benefit at the expense of the working poor, especially since children are often the first to suffer. Instead, he writes, we should create new demand for unskilled labor through public-service employment and incentives to the private sector--in effect, fair "workfare." Solow presents widely ignored evidence that recipients themselves would welcome the chance to work. But he also points out that practical, morally defensible workfare would be extremely expensive--a problem that politicians who support the idea blithely fail to admit. Throughout, Solow places debate over welfare reform in the context of a struggle to balance competing social values, in particular self-reliance and altruism. The book originated in Solow's 1997 Tanner Lectures on Human Values at Princeton University. It includes reactions from the distinguished scholars Gertrude Himmelfarb, Anthony Lewis, Glenn Loury, and John Roemer, who expand on and take issue with Solow's arguments. Work and Welfare is a powerful contribution to debate about welfare reform and a penetrating look at the values that shape its course.
Author | : Gregory Clark |
Publisher | : Princeton University Press |
Total Pages | : 433 |
Release | : 2008-12-29 |
Genre | : Business & Economics |
ISBN | : 1400827817 |
Why are some parts of the world so rich and others so poor? Why did the Industrial Revolution--and the unprecedented economic growth that came with it--occur in eighteenth-century England, and not at some other time, or in some other place? Why didn't industrialization make the whole world rich--and why did it make large parts of the world even poorer? In A Farewell to Alms, Gregory Clark tackles these profound questions and suggests a new and provocative way in which culture--not exploitation, geography, or resources--explains the wealth, and the poverty, of nations. Countering the prevailing theory that the Industrial Revolution was sparked by the sudden development of stable political, legal, and economic institutions in seventeenth-century Europe, Clark shows that such institutions existed long before industrialization. He argues instead that these institutions gradually led to deep cultural changes by encouraging people to abandon hunter-gatherer instincts-violence, impatience, and economy of effort-and adopt economic habits-hard work, rationality, and education. The problem, Clark says, is that only societies that have long histories of settlement and security seem to develop the cultural characteristics and effective workforces that enable economic growth. For the many societies that have not enjoyed long periods of stability, industrialization has not been a blessing. Clark also dissects the notion, championed by Jared Diamond in Guns, Germs, and Steel, that natural endowments such as geography account for differences in the wealth of nations. A brilliant and sobering challenge to the idea that poor societies can be economically developed through outside intervention, A Farewell to Alms may change the way global economic history is understood.
Author | : Thomas K. McCraw |
Publisher | : Harvard University Press |
Total Pages | : 734 |
Release | : 2010-03-30 |
Genre | : Biography & Autobiography |
ISBN | : 0674736966 |
Pan Am, Gimbel’s, Pullman, Douglas Aircraft, Digital Equipment Corporation, British Leyland—all once as strong as dinosaurs, all now just as extinct. Destruction of businesses, fortunes, products, and careers is the price of progress toward a better material life. No one understood this bedrock economic principle better than Joseph A. Schumpeter. “Creative destruction,” he said, is the driving force of capitalism. Described by John Kenneth Galbraith as “the most sophisticated conservative” of the twentieth century, Schumpeter made his mark as the prophet of incessant change. His vision was stark: Nearly all businesses fail, victims of innovation by their competitors. Businesspeople ignore this lesson at their peril—to survive, they must be entrepreneurial and think strategically. Yet in Schumpeter’s view, the general prosperity produced by the “capitalist engine” far outweighs the wreckage it leaves behind. During a tumultuous life spanning two world wars, the Great Depression, and the early Cold War, Schumpeter reinvented himself many times. From boy wonder in turn-of-the-century Vienna to captivating Harvard professor, he was stalked by tragedy and haunted by the specter of his rival, John Maynard Keynes. By 1983—the centennial of the birth of both men—Forbes christened Schumpeter, not Keynes, the best navigator through the turbulent seas of globalization. Time has proved that assessment accurate. Prophet of Innovation is also the private story of a man rescued repeatedly by women who loved him and put his well-being above their own. Without them, he would likely have perished, so fierce were the conflicts between his reason and his emotions. Drawing on all of Schumpeter’s writings, including many intimate diaries and letters never before used, this biography paints the full portrait of a magnetic figure who aspired to become the world’s greatest economist, lover, and horseman—and admitted to failure only with the horses.
Author | : Egemen Eren |
Publisher | : |
Total Pages | : 20 |
Release | : 2014 |
Genre | : |
ISBN | : |
Why did the Industrial Revolution happen in England and at that time, but not somewhere else and around a different time? By using an endogenous growth model of directed technical change and natural resources, we provide an explanation of the Industrial Revolution as a transition from wood to coal as the main source of energy. We calibrate the model to historical data on energy uses and growth in England. Switching to the wood and coal stocks of France, the model matches the income gap between the two countries in 1600 and slightly overpredicts the gap in their 1600-1900 growth rates.
Author | : Robert E. Lucas |
Publisher | : Harvard University Press |
Total Pages | : 220 |
Release | : 2002 |
Genre | : Business & Economics |
ISBN | : 9780674016019 |
In this book, Robert Lucas brings together several of his seminal papers on the subject, together with the Kuznets Lectures that he gave at Yale University, to present a coherent view of economic growth."--BOOK JACKET.