Primitive Accumulation, Growth and the Genesis of Social Classes
AbstractUnlike Stiglitz, we show that an inegalitarian long run equilibrium can emerge in a Solow growth model framework, assuming a linear consumption function. We then interpret this result in line with Marxian economics, showing that this dynamic framework is consistent with Roemer's idea of endogenous class stratification. We extend this calculation by incorporating some features of the Pasinetti-Samuelson-Modigliani model, and provide an example of possible microfoundations.
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Bibliographic InfoPaper provided by University of Paris West - Nanterre la Défense, EconomiX in its series EconomiX Working Papers with number 2007-10.
Length: 15 pages
Date of creation: 2007
Date of revision:
Find related papers by JEL classification:
- B50 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - General
- E25 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Aggregate Factor Income Distribution
- O40 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - General
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