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
1985-01-01
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.File in questo prodotto:
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