Akerlof, Pranab K. Bardhan, Michael Bruno, Nicholas G. Carter, David Cass, Elizabeth S. Marglin, William D.
Nordhaus, Harl E. Ryder, Jr. Search Search.
Search Advanced Search close Close. Abstract This thesis is a collection of three theoretical essays on institutions and economic growth.
Chapter 1 considers a particular institution: ethnicity. Ethnic, religious and tribal divisions are empirically associated with economic underdevelopment. I construct a model in which groups form endogenously to enable cooperation between their members in a prisoner's dilemma. Groups sustain trust through monitoring, whereas only the Nash equilibrium, trade, is possible in an anonymous market. Optimal group size trades off the benefits of increased scale and the costs of reduced ability to detect cheating.
Inter-group hostility can enable each group to enforce more trusting behavior between its own members. Even if groups may form optimally, in equilibrium they may persist inefficiently.
Chapters 2 and 3 consider some distributional implications of technical change in a model with human capital. Both chapters distinguish between general skills, that are equally useful with any vintage of technology, and specific skills, that are associated with a particular vintage. In Chapter 2, I construct a model of slow technology diffusion.
Kaldor and H. Malinvestments, capital losses, and bankruptcies do not exist. In the second we shall consider some wider implications, for the methodology of Economics and the social sciences, of the inapplicability of certain concepts which the natural sciences can and do take for granted. And the last one is actual growth G , which can be determined by saving rate. On the contrary, we take as our starting-point a proposition which we believe to be entirely beyond controversy; that interest-expectations are one of the factors influencing the rate of interest. What is a logical necessity for the former must be considered as an absurdity by the latter. Forging chains of causation is not beyond the power to the neoclassical mind.
In developing countries, diffusion takes the form of a "dual economy", in which a gradually increasing fraction of workers use modern technology, while the remainder use traditional technology. In it, he theorized that populations will continue to grow until growth is stopped or reversed by disease, famine, war, or calamity.
He developed what is now referred to as the Malthusian growth model, an exponential formula used to forecast population growth. Thomas Malthus was a controversial figure.
Essays in the Theory of Economic Growth. Essays in the Theory of Economic Growth. Authors: Robinson, Joan. Free Preview. Essays in the Theory of Economic Growth (Joan Robinson): Business Development Books @ xukukihoqyxe.tk
Malthus countered this argument by saying that, throughout history, a portion of the general population has always been poor and miserable, that this was unlikely to change, and that these factors actually helped control population growth. He wrote these tracts after observing conditions in England during that time.
The main tenets of his arguments went against the grain of thinking at the time. Malthus stated that human population increases at a geometric rate, while production of food increases in arithmetic progression. The faster growth of human population meant that there would come a time when humans would not be able to produce enough food to feed themselves. Malthus' population theory was criticized by later economists and has been disproved by recent developments.
Even as human population continues to increase, technological developments and migration have ensured that the percentage of people living under the poverty line continues to decline. Global interconnectedness helps the flow of aid from regions with plentiful food and resources to developing and poor areas. In India, which has the world's second biggest population, the Green Revolution in the state of Punjab helped feed its growing population.
Western economies like Germany were battered during the Second World War. But an increase in their population numbers did not hamper their growth and development. In Feb. Instead of sending him to school, Malthus's father educated him at home.