IDEAS home Printed from https://ideas.repec.org/a/spr/joevec/v6y1996i4p347-359.html
   My bibliography  Save this article

Wealth accumulation and economic progress

Author

Listed:
  • Robert U. Ayres

    (INSEAD, The European Institute of Business Administration, Boulevard de Constance, F-99305 Fontainebleau Cedex, France)

  • Katalin Martina, s

    (ELTE, Budapest, Hungary)

Abstract

In an evolutionary dynamic economic theory the accumulation of durable goods (i.e., wealth) is a key feature. Here we show that the wealth of individual economic agents can be measured by the progress function (PF). PF is a function of goods and money under straightforward assumptions, notably the `no-loss' rule for transactions. We derive explicit formulae for wealth from the PF. We also show how the compatibility of the PF and the neoclassical economics deriving the conventional utility functions from the PF.

Suggested Citation

  • Robert U. Ayres & Katalin Martina, s, 1996. "Wealth accumulation and economic progress," Journal of Evolutionary Economics, Springer, vol. 6(4), pages 347-359.
  • Handle: RePEc:spr:joevec:v:6:y:1996:i:4:p:347-359
    as

    Download full text from publisher

    To our knowledge, this item is not available for download. To find whether it is available, there are three options:
    1. Check below whether another version of this item is available online.
    2. Check on the provider's web page whether it is in fact available.
    3. Perform a search for a similarly titled item that would be available.

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. repec:voc:wpaper:tech52012 is not listed on IDEAS
    2. repec:voc:wpaper:tech82012 is not listed on IDEAS
    3. Zsolt Gilányi, 2007. "Some Remarks on the Effects of Productivity on Growth," Interdisciplinary Description of Complex Systems - scientific journal, Croatian Interdisciplinary Society Provider Homepage: http://indecs.eu, vol. 5(1), pages 14-20.
    4. Ayres, Robert U., 2004. "On the life cycle metaphor: where ecology and economics diverge," Ecological Economics, Elsevier, vol. 48(4), pages 425-438, April.
    5. Katalin Martinás, 2006. "Non-Equilibrium Economics," Interdisciplinary Description of Complex Systems - scientific journal, Croatian Interdisciplinary Society Provider Homepage: http://indecs.eu, vol. 4(2), pages 63-79.
    6. repec:voc:wpaper:tech32012 is not listed on IDEAS
    7. Zsolt Gilanyi, 2005. "Modelling Markets Versus Market Economies: Success and Failure," Interdisciplinary Description of Complex Systems - scientific journal, Croatian Interdisciplinary Society Provider Homepage: http://indecs.eu, vol. 3(2), pages 94-99.
    8. Serghey A. Amelkin, 2009. "Finite-Time Approach to Microeconomic and Information Exchange Processes," Interdisciplinary Description of Complex Systems - scientific journal, Croatian Interdisciplinary Society Provider Homepage: http://indecs.eu, vol. 7(1), pages 8-13.
    9. S.A. Amelkin, 2004. "Accumulation and consumptionin microeconomic system," Interdisciplinary Description of Complex Systems - scientific journal, Croatian Interdisciplinary Society Provider Homepage: http://indecs.eu, vol. 2(2), pages 119-125.
    10. repec:voc:wpaper:tech72012 is not listed on IDEAS
    11. repec:voc:wpaper:tech22012 is not listed on IDEAS
    12. repec:voc:wpaper:tech12012 is not listed on IDEAS
    13. Aboohamidi, Abbas & Chidmi, Benaissa, 2015. "Changes in the Wealth of American Households during the 2007-2009 Financial Crisis in the U.S," 2015 AAEA & WAEA Joint Annual Meeting, July 26-28, San Francisco, California 205451, Agricultural and Applied Economics Association.
    14. repec:voc:wpaper:tech62012 is not listed on IDEAS
    15. Éva Hideg, 2004. "Foresight as a Special Characteristic of Complex Social Systems," Interdisciplinary Description of Complex Systems - scientific journal, Croatian Interdisciplinary Society Provider Homepage: http://indecs.eu, vol. 2(1), pages 79-87.
    16. Katalin Martinas, 2004. "Neumannian Economy in Multi-agent Approach. Investigation of Stability and Instability in Economic Growth," Interdisciplinary Description of Complex Systems - scientific journal, Croatian Interdisciplinary Society Provider Homepage: http://indecs.eu, vol. 2(1), pages 70-78.
    17. repec:voc:wpaper:tech92012 is not listed on IDEAS
    18. repec:voc:wpaper:tech42012 is not listed on IDEAS

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:spr:joevec:v:6:y:1996:i:4:p:347-359. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.