The fact that, in Ricardian theory, production requires time and hence capital is verbally but not formally recognized in the standard Cambridge representations. Once this is done, the famous Kaldor-Pasinetti claim that the Ricardian theory of distribution is based on a "surplus principle" different from and alien to marginal theory falls. The "new results" are related to the different dynamic properties of one- and two-secto Ricardian models.

Time in Ricardian models: some critical obsservations, andsome new results

COSTA, GIACOMO
1985

Abstract

The fact that, in Ricardian theory, production requires time and hence capital is verbally but not formally recognized in the standard Cambridge representations. Once this is done, the famous Kaldor-Pasinetti claim that the Ricardian theory of distribution is based on a "surplus principle" different from and alien to marginal theory falls. The "new results" are related to the different dynamic properties of one- and two-secto Ricardian models.
Costa, Giacomo
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Utilizza questo identificativo per citare o creare un link a questo documento: http://hdl.handle.net/11568/3461
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