Pii: S0954-349x(99)00023-5
نویسنده
چکیده
Starting out from a classical perspective on income distribution and growth, the paper reconsiders this issue in the framework of a basic (deterministic) Schumpeterian model with ongoing technical change. On a long-run equilibrium path of this economy, the forces of technological innovation and diffusion balance such that always various techniques of different efficiencies coexist. A consequence of this equilibrium notion is that prices and income distribution can no longer be determined independently of quantities, and that distribution is affected by behavioural parameters beyond the scope of the classical analysis. On the other hand, wages and profits continue to be inversely related. It is also indicated that the present approach casts new light on the internal consistency of the Marxian law of the falling rate of profit. © 2000 Elsevier Science B.V. All rights reserved. JEL classification: O30; O40
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تاریخ انتشار 2000