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Primitive Accumulation, Growth and the Genesis of Social Classes

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  • Jean-François Jacques
  • Antoine Rebeyrol

Abstract

Unlike 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.

Suggested Citation

  • Jean-François Jacques & Antoine Rebeyrol, 2007. "Primitive Accumulation, Growth and the Genesis of Social Classes," EconomiX Working Papers 2007-10, University of Paris Nanterre, EconomiX.
  • Handle: RePEc:drm:wpaper:2007-10
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    References listed on IDEAS

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    1. Nicholas Kaldor, 1955. "Alternative Theories of Distribution," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 23(2), pages 83-100.
    2. Oded Galor & Joseph Zeira, 1993. "Income Distribution and Macroeconomics," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 60(1), pages 35-52.
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    Cited by:

    1. Jean Cartelier, 2014. "Entrepreneurs and wage-earners: a monetary approach," Working Papers hal-01285287, HAL.

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    More about this item

    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, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - General

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