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

560 PONTIFICIAE ACADÉMIAE SCIENTIARVM SCRIPTA VARIA - 28 Agriculture seems to be one of the most typical sectors of this kind. To sum up, we may say that, as time goes on, the whole structure of employment changes, in the sense that the propor- tions in which total employment is distributed among the dif- ferent sectors of the system are changing. However, actual dismissal of workers from some sectors will take place only in those cases where the increase in population is not enough to counter-balance the effect of a decreasing per-capita demand or of an increasing productivity, or of the algebraic sum of the two. This means that the higher the rate of population growth (when the capital accumulation needed to absorb it can easily be afforded), the easier it is for an economic system to adapt itself to a given structural process of change of employment. 3. The movements through time of the sectoral capital- output ratios also follow straightforwardly from the previous analysis, namely from expressions (III.14) and from the dy- namic movements (V.13) and (V.14). Here they can perhaps be better examined by considering their reciprocals. which emerge as follows: WV. 17) 1 £ An (0) (0, ~0pt x (NT a, (0) 1=1, 2, ... Xx(f). (V.2n) £E+7;—0:+5>0. 1=1, 2, ... x(D) We may say that, when all (V.1n)-(V.2n) are satisfied, the model retains all its properties. But if some of these inequalities should be reversed, then in order to tell what will happen one needs more information about the degree of flexibility of capital — in the case of V.1n) — and about the degree of mobility of labour — in the case of (V.an). If no mobility of capital or Of labour is possible between one sector and the others, then some idle capacity — in the case of (V.1n) — and some technological unemployment in the case of (V.2n) — are bound to appear 10] Pasinetti - pag. qo

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