Study week on the econometric approach to development planning

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Monograph

Identifikator:: 1824422792

URN:: urn:nbn:de:zbw-retromon-217476

Document type:: Monograph

Title:: Study week on the econometric approach to development planning

Place of publication:: Amsterdam [u.a.]

Publisher:: North-Holland Publ. Co. [u.a.]

Year of publication:: 1965

Scope:: XLVII, 1259 S.; graph. Darst.

Digitisation:: 2022

Collection:: Economics Books

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Document type:: Monograph

Structure type:: Chapter

Title:: On the concept of optimal economic growth / Tjalling C. Koopmans, Cowles Foundation for research in Econimics at Yale University New Haven, Conn. - U.S.A.

Collection:: Economics Books

RENT 211 ment for the agents in production other than land will, therefore, be obtained from the proceeds of a quantity of produce represented by the marginal returns, multiplied by the number of doses applied. When there is a surplus produce (that is produce over and above this amount) its value is rent. The point will have been seized already, no doubt, that, in order to bring in the element of situational convenience, the doses of labour and capital must be made to cover the cost of carrying the factors in production to the land and produce to the market. For the sake of simplicity we are leaving out specific mention of these costs, and for the same reason we are positing that the produce is all of one kind. It may be remarked, how ever, that when the produce is of many kinds we have a common denominator for its measurement in its value ; and that the principle of substitution, which naturally settles how much of one kind of produce is produced and how much of another, will bring it about that the proportion of the different kinds of produce will be such that, in view of the price of each, the value of the total output of the land is maximised. Let me illustrate our simplified case with figures relating to a given piece of land :— “

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