SEMAINE D'ÉTUDE SUR LE ROLE DE L’ANALYSE ECONOMETRIQUE ETC. 
609 
This is a formulation of real interest. It states the series 
of sectoral productive capacity conditions in terms of flows 
‘and no longer in terms of stocks) by specifying a very definite 
relation which must hold between each demand coefficient for 
new investments and the corresponding demand coefficient for 
consumption goods. It states that, as a condition to endow the 
system with the equilibrium productive capacity, each sectoral 
aet investment, in physical terms, must be equal to the cor- 
cesponding sectoral final demand multiplied by the rate of 
growth of population. This determines sectoral equilibrium net 
investments in the whole economic system: 
TI1.7) X, (t)=g a,,X,(t) 1=1, 2, .... (NA — I). 
These conditions may, therefore, be called the capital ac- 
cumulation conditions for keeping full employment over time. 
[f we like, they may be expressed also in terms of ratios be- 
‘ween quantities evaluated at current prices. After multiplying 
both sides of """ * hy P. and dividing by PX, we obtain 
(111.8) 
. 1H 
15, 
which mean that, in equilibrium, each sectoral ratio of invest- 
nent to production, evaluated at current prices, is equal to the 
sercentage rate of population growth multiplied by the cor- 
responding sectoral capital-output ratio. 
When the capital accumulation conditions are kept satisfied, 
‘he system — as time goes on — is being constantly endowed 
with exactly those stocks of productive capacity which are ne- 
cessary in order to provide full employment for all the workers. 
This, however, does not yet necessarily imply full employment 
and full utilization of productive capacity. In order that equi- 
101 Pasinelti - pag. 
3G