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Feldman and the Strategy for Economic Growth

In: Russian and Western Economic Thought

Author

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  • Harald Hagemann

    (University of Hohenheim)

Abstract

Feldman (1884–1958) was a pioneer in the mathematical study of economic growth. Starting from Marx’s two-sectoral model, in the Soviet industrialization debate Feldman (1928) formalized the notion that investment priority for the capital goods sector was a precondition for attaining a higher rate of growth. With the emergence of modern growth theory by Harrod and Domar, and the rise of development planning in countries such as India, Feldman’s structural model of production gained new attraction in the West, as indicated by models constructed by Mahalanobis, Dobb or Lowe. In his chapter, Hagemann explores the characteristics of Feldman’s Soviet model of economic growth, Domar’s reassessment and compares the two-sectoral Marx–Feldman–Mahalanobis model with the three-sectoral Lowe–Dobb model.

Suggested Citation

  • Harald Hagemann, 2022. "Feldman and the Strategy for Economic Growth," Springer Studies in the History of Economic Thought, in: Vladimir Avtonomov & Harald Hagemann (ed.), Russian and Western Economic Thought, pages 235-247, Springer.
    • Handle: RePEc:spr:spshcp:978-3-030-99052-7_11
    DOI: 10.1007/978-3-030-99052-7_11
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