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Application of David Butt's Theory of Growth to the Problem of Investment Allocation

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  • R. M. SUNDRUM

Abstract

David Butt's multi‐sectoral long‐term theory of growth is summarized in mathematical terms and applied to the problem of allocating investment to many sectors, especially by modifying Nurkse's Balanced Growth doctrine to take account of changes in relative prices that occur during the growth process. The case of mechanization of the food sector is discussed in some detail.

Suggested Citation

  • R. M. Sundrum, 1978. "Application of David Butt's Theory of Growth to the Problem of Investment Allocation," The Economic Record, The Economic Society of Australia, vol. 54(1), pages 78-93, April.
    • Handle: RePEc:bla:ecorec:v:54:y:1978:i:1:p:78-93
    DOI: 10.1111/j.1475-4932.1978.tb00318.x
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    References listed on IDEAS

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    1. F. A. Lutz, 1961. "The Theory of Capital," International Economic Association Series, Palgrave Macmillan, number 978-1-349-08452-4 edited by D. C. Hague.
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