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Economic Growth at a Maximal Rate

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  • Tjalling C. Koopmans

Abstract

I. Introduction, 355. — II. A model with two commodities, 359. — III. Growth paths and proportional growth paths, 361. — IV. Geometrical representation of the technology, 362. — V. Representation of proportional growth, 366. — VI. Determination of a maximal proportional growth path, 367. — VII. A price system sustaining a given von Neumann path, 370. — VIII. Is any proportional growth path sustained by a price system maximal? 374. — IX. A numerical example, 375. — X. The turnpike conjecture, 377. — XI. Access to or from the von Neumann path, 378. — XII. Rates of growth in von Neumann value, 379.— XIII. "Profit" effects of an interest rate reduction, 382. — XIV. A variant of Radner's turnpike theorem, 383. — XV. A catenary property of maximal growth paths, 385. — XVI. The turnpike conjecture in other cases, 387. — XVII. Concluding remarks, 391.

Suggested Citation

  • Tjalling C. Koopmans, 1964. "Economic Growth at a Maximal Rate," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 78(3), pages 355-394.
    • Handle: RePEc:oup:qjecon:v:78:y:1964:i:3:p:355-394.
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    1. Giandomenica Becchio, 2008. "The complex role of Karl Menger in the Viennese economic theory," The Review of Austrian Economics, Springer;Society for the Development of Austrian Economics, vol. 21(1), pages 61-79, March.
    2. Obregon, Carlos, 2018. "Globalización visiones equivocadas [Globalization misguided views]," MPRA Paper 86396, University Library of Munich, Germany.
    3. Enrico Bellino & Secondo Autore & Terzo Autore & Quarto Autore, 2018. "A new solution to an old problem: a temporary equilibrium version of the Ramsey model," DISCE - Quaderni del Dipartimento di Scienze Economiche e Sociali dises1836, Università Cattolica del Sacro Cuore, Dipartimenti e Istituti di Scienze Economiche (DISCE).
    4. Becchio Giandomenica & Marchionatti Roberto, 2005. "Teoria economica,filosofia e matematica. La riflessione a Vienna nel Wiener Kreis e nel Mathematische Kolloquium, 1922-1938," CESMEP Working Papers 200508, University of Turin.
    5. M. Ali Khan, 1992. "Book Review: Theoretical Studies in Islamic Banking and Finance, Mohsin S. Khan and Abbas Mirakhor (Editors), Reviewed by: M. Ali Khan مراجعة علمية لكتاب: دراسات نظرية في الأعمال المصرفية والمالية الإ," Book reviews and book reports published in the Journal of King Abdulaziz University: Islamic Economics. 465, King Abdulaziz University, Islamic Economics Institute..
    6. Liuchun Deng & Minako Fujio & M. Ali Khan, 2023. "On optimal extinction in the matchbox two-sector model," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 76(2), pages 445-494, August.
    7. Becchio Giandomenica, 2005. "Economic theory of wiener kreis and mathematische kolloquiun. The complex role of Karl Menger," CESMEP Working Papers 200507, University of Turin.
    8. Matheus Assaf, 2017. "Coast to Coast: How MIT's students linked the Solow model and optimal growth theory," Working Papers, Department of Economics 2017_20, University of São Paulo (FEA-USP).
    9. Mukul Majumdar, 2023. "Roy Radner: A Subtle Theorist," Journal of Quantitative Economics, Springer;The Indian Econometric Society (TIES), vol. 21(3), pages 481-522, September.
    10. Obregon, Carlos, 2018. "Globalization misguided views," MPRA Paper 85813, University Library of Munich, Germany.
    11. Matheus Assaf & Pedro Garcia Duarte, 2018. "Utility Matters: Edmond Malinvaud and growth theory in the 1950s and 1960s," Working Papers, Department of Economics 2018_03, University of São Paulo (FEA-USP).
    12. Akhabbar, Amanar, 2007. "Leontief et l'économie comme science empirique: la signification opérationnelle des lois [Leontief and economics as an empirical science: the “operational meaning” of laws]," MPRA Paper 30453, University Library of Munich, Germany.
    13. Liuchun Deng & Minako Fujio & M. Ali Khan, 2022. "On Sustainability and Survivability in the Matchbox Two-Sector Model: A Complete Characterization of Optimal Extinction," Papers 2202.02209, arXiv.org.

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