Study week on the econometric approach to development planning

Bibliographic data

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.

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

SEMAINE D ETUDE SUR LE ROLE DE LANALYSE ECONOMETRIOUE ETC. 635 consumers had infinite opportunities of trial and error, they must now know their preferences perfectly. The second postul- ate thereby reduces to the first). This is enough for our purposes. To synthesize these re- sults for the following analysis, we may simply state them in three propositions: a) at each level of per-capita income, the proportion of in- come spent on any commodity is generally verv different from one commodity to another: h) as per-capita real income increases, each increment of de- mand tends to concentrate on a particular group of com- modities. This group of commodities changes from one level of income to another (it may be mainly food at very low levels of income, clothes and again food at slightly higher levels of income, houses, durables and services of various kinds at further higher levels, etc.). In other words, as .ncome increases, the tendency of the consumers is not to .ncrease proportionally the consumption of already-bought commodities, but rather to buy new goods and services or also to satisfy old needs with different (better) goods: ~) AW there is no commodity for which any individual’s consump- tion can be increased indefinitely. An upper saturation level exists for all types of goods and services, although at dif- ferent levels of income: it may be reached sharply — in the case of goods satisfying physiological needs — or only through a slow and long process as income increases — in the case of services yielding very sophisticated types of satisfaction — but its attainment is eventually inevitable. Moreover, demand for some particular goods (inferior goods) may in fact decrease, after reaching saturation, if real in- come persistently goes on growing. If we want to represent these results graphically, by plot- dng the expenditure for each commodity as a function of real 10] Pasinetti - pag. 65

Access restriction

Copyright

fullscreen: Study week on the econometric approach to development planning

Monograph

Chapter

Table of contents

Download

Monograph

Chapter

This page

Image fragment

Citation links

Citation recommendation