Two-Sector Model of General Equilibrium

This important book presents a theory of general equilibrium and was the first to present in condensed form the construction of the two-sector model, its applications to the theory of distribution and public finance for income redistribution, and its conversion into a growth model. It assembles a body of analysis that was previously available only in scattered journal articles and a few textbook chapters.

In the first of three chapters Johnson constructs the two-sector model, using only geom...