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

Collection:: Economics Books

SEMAINE D'ÉTUDE SUR LE ROLE DE L ANALYSE ECONOMETRIOUE ETC. OZ Ii an industrial scale, which takes place through a much longer and continuous process. Moreover, it includes all the innu- merable series of expedients and devices, small if considered individually, but of great relevance if jointly gauged, which are the daily upshot of experience, experiments, research and of re-thinking of the productive organization. This is indeed a very complicated process, emerging from the learning activity of men and the application of this learning activity to pro- Juction. By its nature this process is, therefore, a slow but persistent one. It consists of long and repeated attempts not only to reorganize the old methods of production, to utilize more efficiently the new materials, and to improve the quality of the products, but also to invent and apply new methods of production, produce new products, find new resources, and discover new sources of energy. It would certainly be out of place to develop a theory of echnical progress here. If such a theory should ever be developed, it would pertain to a much wider field than econo- mics, because it could not avoid some definite conceptions about the aims and ends of human society. Therefore, as far as the present work is concerned, the usual procedure will be followed of taking technology as given from outside economic analysis. However, what will be taken as given is not a fixed technology but the movements of the technical coefficients in general through time. In this way, the concept of technical change which is adopted in the following pages will not be restricted by any particular assumptions (*! But in order to reach practicalr () It will cover the case of technical progress of any type and also the case of increasing or decreasing returns to scale. On the other hand, he case on ‘which neo-classical economists focussed all their attention ‘a change of production methods owing to changes in the rate of profit) vill automatically not arise because in the present model the rate of profit remains constant as time goes on. 101 Pasinetti - pag. 57

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