THEORY OF GROWTH:  THE VON NEUMANN REVOLUTION.

THEORY OF GROWTH: THE VON NEUMANN REVOLUTION.

Active / Technical Report | Accession Number: AD0609307 |

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.

Author(s):

Morishima, Michio

Author Organization(s):

STANFORD UNIV CALIF INST FOR MATHEMATICAL STUDIES IN THE SOCIAL SCIENCES

Descriptive Note:

Technical rept. no. 130,

Supplementary Note:

Security Markings

DOCUMENT & CONTEXTUAL SUMMARY

Distribution:

Approved For Public Release

RECORD

Collection: TR

Identifying Numbers

Report Number(s):

TR-130

Contract/Grant Number(s):

Nonr-225(50)

Project Number(s):

NR-047-004

Subject Terms

Communities of Interest:

No COI(s) Identified

Descriptor(s):

*ECONOMIC ANALYSIS, ECONOMICS, POPULATION, SALARIES, MONEY, SET THEORY, CONVEX SETS, CONSUMPTION, GAME THEORY

Keyword(s):

ECONOMICS, GROWTH(GENERAL), VON NEUMANN MODEL

Report Date:

1964 Dec 04