The Evolution of Growth Theory: From Classical Dynamics to Vertical Integration

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The Evolution of Growth Theory: From Classical Dynamics to Vertical Integration

Author Info

Halevi, J.

Abstract

This paper will critically discuss traditional growth theory by using, as a reference, the main results obtained by Luigi Pasinetti's approach based on vertically integrated processes. It will be argued that theories centred on one commodity models, whether a Ricardo-Marx or Ramsey variety, cannot take into account issues related to the problem of effective demand and of technical change.

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Paper provided by Sydney - Department of Economics in its series Papers with number 98-01.

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Length: 16 pages
Date of creation: 1998
Date of revision:
Handle: RePEc:fth:sydnec:98-01

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Web page: http://www.econ.usyd.edu.au/economics
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Find related papers by JEL classification:
B29 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Other
O41 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - One, Two, and Multisector Growth Models
O49 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Other

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