Biased Technical Change and Economic Conservation Laws

  • Ryuzo Sato

Part of the Research Monographs in Japan-U.S. Business & Economics book series (JUSB, volume 9)

About this book

Introduction

The principal aim of BIASED TECHNICAL CHANGE AND ECONOMIC CONSERVATION LAWS is twofold: to reveal the new economic significance of the old concept of biased technical change and the current application of the new concept of economic conservation laws.

Although terms such as "labor saving" and "capital saving" fall under the category of biased technical change, the first of these topics, no model exists in which biased technical change gives rise endogenously to technical progress. A special feature of this book is its thorough investigation and analysis of these issues, which go far beyond existing studies in this area.

The concept of economic conservation laws dates back to Ramsey’s classic study of 1928. This book primarily makes use of Lie groups to shed new light on the analysis of economic conservation laws. Economic conservation laws are not simply abstract concepts; this book shows that they are tools of empirical analysis that can be applied to such topics as analyses of macro performance and corporate efficiency.

Keywords

economic growth growth microeconomics modeling

Authors and affiliations

  • Ryuzo Sato
    • 1
  1. 1.Business and Economic Studies Leonard Stern School of BusinessNew York UniversityUSA

Bibliographic information

  • DOI https://doi.org/10.1007/b137488
  • Copyright Information Springer Science+Business Media, Inc. 2006
  • Publisher Name Springer, Boston, MA
  • eBook Packages Business and Economics
  • Print ISBN 978-0-387-26055-6
  • Online ISBN 978-0-387-26376-2
  • Series Print ISSN 1385-7568
  • About this book