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

Usage license:: Get license information via the feedback formular.

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

Usage license:: Get license information via the feedback formular.

Chapter

Document type:: Monograph

Structure type:: Chapter

Title:: A new theoretical approach to the problems of economic growth / Luigi L. Pasinetti, King's College - Cambridge - Great Britain

Collection:: Economics Books

Document type:: Monograph

Structure type:: Chapter

Title:: A new theoretical approach to the problems of economic growth / Luigi L. Pasinetti, King's College - Cambridge - Great Britain

Collection:: Economics Books

526 PONTIFICIAE ACADEMIAE SCIENTIARVM SCRIPTA VARIA - 28 4. The production aspect of technical change It will now be useful to consider carefully the meaning and implications of technical change. When the technical coefficients of production change as time goes on, there are two distinctly different series of effects which are called into being and which may respectively be connected with production and demand. On the production side, technical change means a variation in the technical conditions and therefore a change in the physical quantities of goods which may be produced out of a given amount of original factors of production. On the demand side, it means a change in remuneration of the factors of production, and therefore a change in the amount of per-capita real income at the disposal of consumers in general. Let us take the production aspect first. Here the causes of change may be manifold. For a long time economists have been impressed by those changes which are connected with the exhaustion of natural resources. To MALTHUS and RIcARDO, for example, at the beginning of last century, it appeared as a matter of logical necessity that the continuation and expansion of the process of production, on natural resources which are given, should inevitably lead to decreasing returns, i.e. to an increasing trend in the technical coefficients of production. But the economic history of the industrial countries has by now consistently and persistently brought to the fore another, more important and widespread process of change, continuously at work ‘in any modern society: technical progress. Technical progress is a very complex movement. In the sense in which it is relevant for economic analysis, it includes not only, and not so much, the great scientific discoveries, which by their own nature come about in a discontinuous and sometimes accidental way, as their practical application on tol Pasinetti - pag. 56

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