Structural Economic Dynamics

Structural Economic Dynamics

by Luigi Pasinetti
     
 

ISBN-10: 0521029767

ISBN-13: 9780521029766

Pub. Date: 11/02/2006

Publisher: Cambridge University Press

This book is a theoretical investigation of the influence of human learning on the development through time of a 'pure labour' economy. The theory proposed is a simple one; but aims to grasp the essential features of all industrial economies. Economists have long known that two basic phenomena lie at the root of long-term economic movements in industrial societies:…  See more details below

Overview

This book is a theoretical investigation of the influence of human learning on the development through time of a 'pure labour' economy. The theory proposed is a simple one; but aims to grasp the essential features of all industrial economies. Economists have long known that two basic phenomena lie at the root of long-term economic movements in industrial societies: capital accumulation and technical progress, though attention has been concentrated on the former. In this book, by contrast, technical progress is assigned the central role. Within a multi-sector framework, the author examines the structural dynamics of prices, production and employment (implied by differentiated rates of productivity growth and expansion of demand) against a background of 'natural' relations. He also considers a number of institutional problems. Institutional and social learning, know-how, and the diffusion of information emerge as the decisive factors accounting for the success and failure of industrial societies.

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Product Details

ISBN-13:
9780521029766
Publisher:
Cambridge University Press
Publication date:
11/02/2006
Edition description:
First Edition
Pages:
208
Product dimensions:
5.98(w) x 8.98(h) x 0.47(d)

Table of Contents

Preface
Acknowledgements
List of symbols
IEconomic theory and the neglect of structural change1
IIA pure labour production economy15
IIIProportional dynamics27
IVStructural dynamics36
VThe evolving structure and level of prices60
VIConsumption, savings, rate of interest and inter-temporal distribution of income82
VIIOn the evolving structure of long-term development105
VIIIFrom the 'actual' towards the 'natural' economic system - the role of institutions117
IXBoundedness of economic systems, and international economic relations148
References177
Index182

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